Elastic gets USD 120 target after Monness upgrade for Elastic stock

Published on 10/20/2026 at 13:51 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Elastic posted USD 478.11 million revenue in fiscal Q1 2027, up 15.20 percent year over year. Elastic stock was EUR 83.70 on October 20, 2026.

Analyst target and reporting date

Monness upgraded Elastic to Buy and set a USD 120.00 target on October 9, 2026.
Fiscal first-quarter revenue reached USD 478.11 million, up 15.20 percent year over year.
Elastic stock was trading at EUR 83.70 at 1:42 p.m. CEST at Lang & Schwarz on October 20, 2026.
Elastic's next estimated earnings date is November 19, 2026.

ESTC, NL0013056914, Illustration mit AI erstellt.

Elastic (ISIN NL0013056914) received a Buy upgrade from Monness, Crespi, Hardt and a USD 120.00 12-month price target on October 9, 2026, according to Investing.com. Elastic stock was trading at EUR 83.70 at 1:42 p.m. CEST at Lang & Schwarz on October 20, 2026.

Monness links target to AI positioning

Monness moved its rating from Neutral to Buy and assigned the USD 120.00 target after highlighting Elastic's AI positioning and new Metrics offering. The same report said the stock remained below its November 2021 all-time high, while DA Davidson had raised its target to USD 100.00 from USD 80.00 and retained a Neutral rating, according to Investing.com.

Three dates frame the rerating

On August 27, 2026, Elastic reported fiscal first-quarter revenue of USD 478.11 million, up 15.20 percent year over year, according to the Elastic investor-relations page. On October 9, 2026, Monness upgraded the stock and set the USD 120.00 target. On October 19, 2026, an interview with Elastic's chief information security officer said current remaining performance obligations had grown 21.00 percent in fiscal first quarter, while full-year revenue guidance was close to USD 2.00 billion, as reported by BusinessWorld.

What does the target imply?

The USD 120.00 target is a clear test of whether Elastic can convert AI demand into durable subscription growth. Elastic's investor-relations page highlights USD 399 million of sales-led subscription revenue and more than 1,800 customers with at least USD 100,000 in annual contract value for fiscal first quarter 2027. For the next quarter ending October 31, 2026, the company expects revenue of USD 486 million to USD 487 million, while full-year fiscal 2027 guidance is USD 1.998 billion to USD 2.010 billion, according to Simply Wall St.

Next reporting date is November 19

The next estimated earnings release is November 19, 2026, according to Zacks. That date gives investors a defined checkpoint for the USD 486 million to USD 487 million second-quarter revenue outlook.

Elastic stock stays tied to execution

Elastic's primary listing is on the NYSE, where the stock closed at USD 94.60 on October 19, 2026. The company's market capitalization was USD 9.9 billion on that date, and its 52-week range was USD 42.05 to USD 108.00.

Elastic stock was trading at EUR 83.70 at 1:42 p.m. CEST at Lang & Schwarz on October 20, 2026. The further course of trading is shown by the continuously updated real-time quote of Elastic stock.