Why Elastic (ESTC) Stock Is Up Today

Elastic (ESTC) is up 6.1% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver is continued buying interest after Elastic’s strong fiscal first-quarter 2027 results and higher full-year outlook released on August 27, 2026. This also could be a delayed follow-through move from the wave of analyst price-target increases that came after the quarter, reinforcing the view that demand in search, observability, security, and AI-related workloads remains healthy.

Details:

Elastic posted first-quarter revenue of about $478 million, up 15% year over year, while non-GAAP diluted earnings per share came in at $0.70.

The company guided for fiscal 2027 revenue of roughly $1.998 billion to $2.010 billion and non-GAAP diluted earnings per share of $3.29 to $3.37, signaling confidence in the year ahead.

Management highlighted 21% growth in current remaining performance obligations and said quarterly net additions in the more than $100,000 annual contract value customer cohort reached a record level.

Following the report, several Wall Street firms lifted their price targets, including moves to $118 at Barclays and $125 at RBC Capital, which may have helped support momentum into this week.

Sources:

Elastic Investor Relations, SEC, TipRanks

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 24 times in the past 6 months. Of those trades, 0 have been purchases and 24 have been sales.

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

SHAY BANON (Chief Technology Officer) has made 0 purchases and 10 sales selling 489,869 shares for an estimated $45,279,404.
ASHUTOSH KULKARNI (Chief Executive Officer) has made 0 purchases and 2 sales selling 58,129 shares for an estimated $3,375,291.
CAROLYN HERZOG (Chief Legal Officer) has made 0 purchases and 3 sales selling 23,474 shares for an estimated $1,720,130.
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.
JANE E BONE (GVP & CAO) has made 0 purchases and 3 sales selling 6,167 shares for an estimated $503,658.

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 196 institutional investors add shares of $ESTC stock to their portfolio, and 292 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 15 analysts offer price targets for $ESTC in the last 6 months, with a median target of $70.0.

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
Brent Thill from Jefferies set a target price of $75.0 on 05/29/2026
Tyler Radke from Citigroup set a target price of $104.0 on 05/29/2026
Raimo Lenschow from Barclays set a target price of $68.0 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.