Monness upgraded Elastic stock to Buy with USD 120 target

Published on 10/13/2026 at 06:55 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Elastic reported USD 478.11 million revenue in fiscal Q1 2027, up 15.20 percent. Elastic stock had a USD 9.9 billion value on October 12, 2026.

Key points in brief

Monness Crespi & Hardt upgraded Elastic from Neutral to Buy and assigned a USD 120.00 target on October 9, 2026.
Elastic reported USD 478.11 million in fiscal first-quarter 2027 revenue, up 15.20 percent year over year.
The last NYSE quote was USD 95.52 on October 12, 2026, with a USD 9.9 billion market capitalization.
Elastic guided for USD 486 million to USD 487 million in fiscal second-quarter 2027 revenue and positive GAAP operating margin.

ESTC, NL0013056914, Illustration mit AI erstellt.

Monness Crespi & Hardt upgraded Elastic stock from Neutral to Buy and assigned a 12-month target of USD 120.00 on October 9, 2026, according to Investing.com. Elastic's last NYSE quote was USD 95.52 on October 12, 2026 at 4:00 p.m. ET, while its market capitalization stood at USD 9.9 billion.

Three dated catalysts shaped Elastic

On August 27, 2026, Elastic reported USD 478.11 million in revenue for fiscal first-quarter 2027, up 15.20 percent year over year, according to MarketBeat. Adjusted earnings per share reached USD 0.70 against consensus of USD 0.58, a USD 0.12 beat.

On September 11, 2026, Elastic launched its Elasticsearch Vector Database, and its fiscal second-quarter revenue guidance stood at USD 486 million to USD 487 million, according to Yahoo Finance. The October 9 rating change therefore followed both a quantified earnings beat and a new AI product push.

What must margins prove?

Elastic's growth still sits beside a GAAP operating loss of USD 24 million and a negative 5.00 percent operating margin in fiscal first-quarter 2027, while non-GAAP operating income reached USD 77 million, Yahoo Finance reported on September 16, 2026. Management guided for positive GAAP operating margin in fiscal second-quarter 2027, making the USD 486 million to USD 487 million revenue range the next measurable test.

Two dates frame the next report

October 31, 2026, marks the end of fiscal second-quarter 2027, with revenue guidance of USD 486 million to USD 487 million, according to Yahoo Finance. The next earnings date is listed as November 19, 2026, by ToAlpha.

Valuation meets a profitability test

Elastic's USD 95.52 NYSE quote on October 12, 2026 sat inside its USD 42.05 to USD 108.00 52-week range. The USD 120.00 Monness target is 25.52 percent above that quote, but the valuation case depends on converting double-digit revenue growth into durable GAAP profitability rather than relying only on adjusted measures.

The further course of trading is shown by the continuously updated real-time quote of Elastic stock.