Brian White, an analyst from Monness, maintained the Buy rating on Elastic. The associated price target was raised to $150.00.
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Brian White has given his Buy rating due to a combination of factors that highlight Elastic’s strong performance and promising future prospects. The company reported impressive first-quarter results for fiscal year 2026, with revenue and earnings per share significantly surpassing expectations. Elastic’s revenue growth accelerated to 20% year-over-year, driven by robust demand across its platform, particularly in its cloud services, which saw a 24% increase.
Additionally, Elastic’s strategic initiatives, such as price increases and a focus on generative AI use cases, have bolstered its market position. The company’s improved execution and positive outlook for the second quarter and full fiscal year 2026, including raised revenue and earnings forecasts, further support the Buy rating. Despite challenges in the macro environment, Elastic’s ability to capitalize on tech trends and expand its margins makes it an attractive investment opportunity.
According to TipRanks, White is a top 100 analyst with an average return of 17.2% and a 68.21% success rate. White covers the Technology sector, focusing on stocks such as MongoDB, Elastic, and Apple.
In another report released today, Barclays also maintained a Buy rating on the stock with a $125.00 price target.