Elastic stock rises as AI trade strengthens ahead of earnings

Elastic N.V. (ESTC) is up 6.2% today. Here is some analysis on what might have caused this price movement.

Analysis: The clearest explanation appears to be a mix of sector momentum and company-specific optimism. Investors were bidding up AI and software names broadly, while Elastic also had an earnings report scheduled for after the close, a recent AI-focused acquisition, and several fresh price-target increases that likely supported sentiment.

Details:

Elastic was set to report first-quarter fiscal 2027 results after the market close on August 27, which may have drawn positioning ahead of the announcement.

The broader technology market moved higher after upbeat AI spending signals from large-cap tech, helping lift enterprise software shares during the session.

Elastic completed its acquisition of Deductive AI on August 24, adding AI-powered incident investigation capabilities to its observability business.

Recent analyst actions were broadly constructive, with multiple firms raising price targets in the days leading up to earnings, including increases into the high-$80s and $90s.

Sources:

Elastic Investor Relations, AP News, Reuters, Benzinga

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$ESTC Insider Trading Activity

$ESTC insiders have traded $ESTC stock on the open market 14 times in the past 6 months. Of those trades, 0 have been purchases and 14 have been sales.

Here’s a breakdown of recent trading of $ESTC stock by insiders over the last 6 months:

ASHUTOSH KULKARNI (Chief Executive Officer) has made 0 purchases and 2 sales selling 58,129 shares for an estimated $3,375,291.
KEN EXNER (Chief Product Officer) has made 0 purchases and 2 sales selling 22,759 shares for an estimated $1,343,520.
MARK EUGENE DODDS (Chief Revenue Officer) has made 0 purchases and 2 sales selling 22,162 shares for an estimated $1,312,226.
NAVAM WELIHINDA (Chief Financial Officer) has made 0 purchases and 2 sales selling 16,201 shares for an estimated $954,953.
SHAY BANON (Chief Technology Officer) has made 0 purchases and 2 sales selling 13,571 shares for an estimated $786,860.
CAROLYN HERZOG (Chief Legal Officer) has made 0 purchases and 2 sales selling 13,474 shares for an estimated $783,430.
JANE E BONE (GVP & CAO) has made 0 purchases and 2 sales selling 1,991 shares for an estimated $113,285.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$ESTC Hedge Fund Activity

We have seen 199 institutional investors add shares of $ESTC stock to their portfolio, and 289 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

D. E. SHAW & CO., INC. added 2,797,589 shares (+140.6%) to their portfolio in Q2 2026, for an estimated $159,518,524
FREESTONE GROVE PARTNERS LP removed 2,053,233 shares (-90.7%) from their portfolio in Q2 2026, for an estimated $117,075,345
TIGER GLOBAL MANAGEMENT LLC removed 1,690,700 shares (-100.0%) from their portfolio in Q2 2026, for an estimated $96,403,714
AQR CAPITAL MANAGEMENT LLC removed 1,474,422 shares (-19.5%) from their portfolio in Q2 2026, for an estimated $84,071,542
SOMA EQUITY PARTNERS LP removed 1,386,473 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $69,309,785
TEMASEK HOLDINGS (PRIVATE) LTD removed 1,294,465 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $64,710,305
NORGES BANK added 1,256,890 shares (+947.1%) to their portfolio in Q2 2026, for an estimated $71,667,867

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$ESTC Price Targets

Multiple analysts have issued price targets for $ESTC recently. We have seen 16 analysts offer price targets for $ESTC in the last 6 months, with a median target of $71.5.

Here are some recent targets:

Blair Abernethy from Rosenblatt set a target price of $83.0 on 06/26/2026
Thomas Blakey from Cantor Fitzgerald set a target price of $59.0 on 06/25/2026
Kingsley Crane from Canaccord Genuity set a target price of $80.0 on 05/29/2026
Lucky Schreiner from DA Davidson set a target price of $60.0 on 05/29/2026
Raimo Lenschow from Barclays set a target price of $68.0 on 05/29/2026
Tyler Radke from Citigroup set a target price of $104.0 on 05/29/2026
Brent Thill from Jefferies set a target price of $75.0 on 05/29/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.