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Elastic Stock Surges on Upgraded Guidance and Share Buyback Plan
Elastic Stock Surges on Upgraded Guidance and Share Buyback Plan
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BTCCSquare news:
Elastic (ESTC) shares climbed 8% in after-hours trading following a double-barreled announcement: raised revenue forecasts and a $500 million stock repurchase program. The AI-driven search specialist unveiled its Elastic Inference Service at Analyst Day, targeting GPU-accelerated AI workflows through Nvidia partnerships.
Revised projections show second-quarter Fiscal 2026 revenue reaching $417-$419 million, with full-year estimates bumped to $1.697-$1.703 billion. The guidance boost reflects strengthening demand for the company's enterprise search solutions as AI adoption accelerates across industries.
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