Elastic Analysts Raise Their Forecasts After Upbeat Q1 Results

Elastic N.V. (NYSE:ESTC) reported better-than-expected first-quarter results and raised its FY2026 guidance.

Elastic reported quarterly earnings of 60 cents per share which beat the analyst consensus estimate of 42 cents per share. The company reported quarterly sales of $415.29 million which beat the analyst consensus estimate of $397.20 million.

Elastic raised its FY2026 adjusted EPS guidance from $2.24-$2.32 to $2.29-$2.35 and also increased its sales guidance from $1.66 billion-$1.67 billion to $1.68 billion-$1.69 billion.

“Elastic had an excellent Q1 and a strong start to the fiscal year surpassing the high end of our guidance across all metrics,” said Ash Kulkarni, Chief Executive Officer, Elastic. “Our growth was supported by the ongoing demand for our highly differentiated technology, and our sales team’s solid execution. With AI now clearly shaping technology decisions, our strong performance directly demonstrates the value that Elastic’s Search AI Platform delivers to our customers.”

Elastic shares rose 5.4% to close at $87.79 on Thursday.

These analysts made changes to their price targets on Elastic following earnings announcement.

• Baird analyst Shrenik Kothari maintained Elastic with an Outperform rating and raised the price target from $105 to $120.
• Stifel analyst Brad Reback maintained the stock with a Buy and raised the price target from $112 to $134.
• Piper Sandler analyst Rob Owens maintained Elastic with an Overweight rating and raised the price target from $120 to $125.

Considering buying ESTC stock? Here’s what analysts think:

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