These Analysts Increase Their Forecasts On Elastic Stores Following Strong Q1 Results
Elastic NV (NASDAQ:ESTC) on Thursday reported better-than-expected first-quarter financial results and raised its FY27 guidance.
Elastic posted quarterly adjusted earnings of 70 cents per share, beating market estimates of 58 cents per share. The company’s sales came in at $478.113 million versus expectations of $469.745 million.
Elastic raised its FY2027 adjusted EPS guidance from $3.21-$3.29 to $3.29-$3.37 and also increased sales guidance from $1.985 billion-$2.000 billion to $1.998 billion-$2.010 billion.
“Elastic delivered a strong start to fiscal 2027, beating our guidance across all key metrics,” said Ash Kulkarni, chief executive officer, Elastic. “AI is reshaping the enterprise technology stack, and organizations are making deliberate choices about where to build and how to observe and secure their applications and data. Our record quarter-over-quarter net customer additions to our >$100K ACV cohort and continued strength in cRPO and RPO growth reflect the durability of that demand. We enter the year with growing momentum across Search & AI, Security, and Observability and confidence in the trajectory of our business.”
Elastic shares jumped 21.8% to $101.95 in pre-market trading.
These analysts made changes to their price targets on Elastic following earnings announcement.
- Baird analyst Shrenik Kothari maintained the stock with an Outperform rating and raised the price target from $95 to $120.
- B of A Securities analyst Koji Ikeda maintained the stock with a Neutral and raised the price target from $90 to $108.
- Cantor Fitzgerald analyst Thomas Blakey maintained the stock with a Neutral and raised the price target from $91 to $100.
- Guggenheim analyst Howard Ma maintained the stock with a Buy and raised the price target from $106 to $120.
- Rosenblatt analyst Blair Abernethy maintained the stock with a Buy and boosted the price target from $83 to $115.
Considering buying ESTC stock? Here’s what analysts think:
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