Elastic N.V. (NYSE:
ESTC) is one of the
Top 10 AI and Technology Stocks to Buy According to Analysts. On June 27, Monness Crespi & Hardt upgraded the company’s stock from “Neutral” to “Buy,” setting the price objective of $111.0, as reported by
The Fly. As per the firm, after a decline in 2024, the company’s shares have declined ~17% this year, while AI-fueled tech stocks managed to climb to new all-time highs in 2025. Considering the depressed EV/Revenue multiple as compared to the consumption-based software group and the firm’s software universe at large, it finds Elastic N.V. (NYSE:ESTC)’s valuation compelling at current levels. The firm opines that the company remains well-placed for the GenAI movement, added the analyst.
A group of software engineers working in an open, futuristic office.
Elastic N.V. (NYSE:ESTC) continues to demonstrate its leadership in Search AI, with customers continuing to build Generative AI applications and consolidating onto its platform. Elastic N.V. (NYSE:ESTC)’s total customer count with Annual Contract Value (ACV) over $100,000 was more than 1,510 in Q4 2025 as compared to over 1,460 in Q3 FY 2025, and over 1,330 in Q4 FY 2024. For Q1 2026, the company expects total revenue of between $396 million – $398 million, reflecting 14% YoY growth at the midpoint (13% YoY constant currency growth at the midpoint).
Elastic N.V. (NYSE:ESTC) is a search AI company that is engaged in providing software platforms to run in hybrid, public, or private clouds and multi-cloud environments.
While we acknowledge the potential of ESTC to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ESTC and that has 100x upside potential, check out our report about this
cheapest AI stock.
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