On August 28, Elastic N.V. rose 18.64% in pre-market trading, trading at $99.41/share, with turnover of $54,000.
The surge was driven by the company's fiscal Q1 2027 earnings release after the prior session's close, which exceeded expectations on all key metrics. Adjusted EPS came in at $0.70, significantly above the $0.58 consensus estimate, representing a 16.7% year-over-year increase. Revenue reached $478.1 million, surpassing the $469.7 million estimate, up 15.1% year-over-year. Q2 guidance of $0.80-$0.82 EPS on revenue of $486-$487 million also topped analyst projections of $0.79 EPS on $483.5 million revenue.
Additionally, Elastic raised full fiscal year 2027 guidance to non-GAAP EPS of $3.29-$3.37 on revenue of $1.998-$2.01 billion, up from its prior forecast of $3.21-$3.29 EPS on $1.985-$2.0 billion revenue. Truist had previously raised its price target on Elastic to $100 from $80, maintaining a Buy rating, citing AI and security-related subscription revenue as core growth drivers alongside improving margins.
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