On August 28, Elastic N.V. surged 26.89% in regular trading, trading at $105.5/share, with turnover of $53.60 million. The stock rallied sharply after the company reported fiscal Q1 results that significantly exceeded market expectations and raised full-year guidance.

Elastic posted fiscal Q1 non-GAAP earnings of $0.70 per diluted share, far surpassing the consensus estimate of $0.58 and up from $0.60 a year earlier. Revenue rose 15.2% year-over-year to $478.1 million, beating the Street estimate of $469.7 million. For fiscal Q2, management guided non-GAAP EPS of $0.80 to $0.82 on revenue of $486 million to $487 million, both above analyst projections of $0.79 EPS and $483.5 million in revenue.

The company also raised its fiscal 2027 full-year outlook to non-GAAP EPS of $3.29 to $3.37 on revenue of $1.998 billion to $2.01 billion, up from prior guidance. RBC Capital Markets raised its price target to $120 from $100, maintaining a Buy rating, while Truist had previously lifted its target to $100 from $80. AI and security-related subscription revenue continue to be viewed as core growth drivers.

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