Elastic jumps as Q2 revenue forecast tops estimates
28/08/2026 11:11
BUZZ-Elastic jumps as Q2 revenue forecast tops estimates ** U.S.-listed shares of search and data analytics software company Elastic ESTC.N 3E1.F rise 20% to $100.5 premarket
** Stock set to hit its highest level since March 2025, if gains hold
** Co forecasts Q2 revenue between $486 mln and $487 mln, above analysts' estimates of $485.2 mln - data compiled by LSEG
** Elastic added a record number of customers with annual contract values above $100,000, reflecting strong demand for its AI, security and observability products, CEO Ash Kulkarni says
** Q1 revenue comes in at $478 mln vs. analysts' estimates of $470 mln
** 17 of 30 brokerages rate ESTC "buy" or higher, 13 "hold"; their median PT is $100
** As of last close, stock up 37.3% YTD
(Reporting by Darshan Kumar in Bangalore)
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