William Blair analyst Jake Roberge has maintained their bullish stance on ESTC stock, giving a Buy rating today.
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Jake Roberge has given his Buy rating due to a combination of factors including Elastic’s strong positioning in the AI and search markets, which are the company’s fastest-growing segments. The company has demonstrated a significant opportunity to expand within its existing customer base, with a notable portion of logging and SIEM customers utilizing the platform for extended use cases beyond core workflows.
Additionally, Elastic’s focus on increasing product adoption among customers is evident, as those utilizing three solutions tend to spend significantly more than those using just one. The company’s recent go-to-market changes have led to increased productivity among account executives, and management has set ambitious financial targets, including a revenue growth forecast for fiscal 2026 and a new share repurchase program. These strategic initiatives and financial outlooks underpin Roberge’s positive outlook on Elastic’s stock.
In another report released today, Canaccord Genuity also reiterated a Buy rating on the stock with a $120.00 price target.