Elastic N.V.
- Open
- 61.44
- Day high
- 62.46
- Day low
- 61.02
- Prev close
- 62.11
- Volume
- 1.4M
- Mkt cap
- $6.4B
- P/E (TTM)
- 17.4
- EPS (TTM)
- $3.54
- P/B
- 5.0
- P/S
- 3.7
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$6.7M over the last 3 months (0 open-market buys, 7 sales)
- 🏛Institutions mixed (13F)
Elastic N.V. (ESTC) is a Technology company listed on NYSE. The stock is down 29% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 7 sales (SEC Form 4).
Elastic N.V. (ESTC) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 14 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
ESTC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 28, 2026 | $0.56 | $0.61 | +8.9% | $451M | +0.9% |
| Nov 20, 2025 | $0.58 | $0.64 | +11.1% | $423M | +1.2% |
| Aug 28, 2025 | $0.42 | $0.60 | +43.3% | $415M | +4.6% |
| May 29, 2025 | $0.37 | $0.47 | +27.3% | $388M | +2.1% |
| Feb 27, 2025 | $0.47 | $0.63 | +33.8% | $382M | +3.5% |
| Nov 21, 2024 | $0.38 | $0.59 | +55.3% | $365M | +3.1% |
| Aug 29, 2024 | $0.26 | $0.35 | +36.2% | $347M | +0.8% |
| May 30, 2024 | $0.20 | $0.21 | +7.1% | $335M | +1.6% |
| Feb 29, 2024 | $0.31 | $0.36 | +16.1% | $328M | +1.5% |
| Nov 30, 2023 | $0.24 | $0.37 | +54.2% | $311M | +2.1% |
| Aug 31, 2023 | $0.11 | $0.25 | +127.3% | $294M | +3.3% |
| Jun 1, 2023 | $0.09 | $0.22 | +144.4% | $280M | +0.9% |
ESTC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 10, 2026 | Dodds Mark Eugeneofficer: Chief Revenue Officer | Grant | 34,725 | — |
| Jun 10, 2026 | Herzog Carolynofficer: Chief Legal Officer | Sell | 9,485 | $60.61 |
| Jun 10, 2026 | Exner Kenofficer: Chief Product Officer | Grant | 48,616 | — |
| Jun 10, 2026 | Welihinda Navamofficer: Chief Financial Officer | Grant | 45,144 | — |
| Jun 10, 2026 | Kulkarni Ashutoshdirector, officer: Chief Executive Officer | Grant | 111,123 | — |
| Jun 10, 2026 | Exner Kenofficer: Chief Product Officer | Sell | 18,449 | $60.61 |
| Jun 10, 2026 | Banon Shaydirector, officer: Chief Technology Officer | Sell | 9,288 | $60.61 |
| Jun 10, 2026 | Exner Kenofficer: Chief Product Officer | Grant | 72,417 | — |
| Jun 10, 2026 | Bone Jane Eofficer: GVP & CAO | Grant | 12,069 | — |
| Jun 10, 2026 | Banon Shaydirector, officer: Chief Technology Officer | Grant | 40,231 | — |
| Jun 10, 2026 | Herzog Carolynofficer: Chief Legal Officer | Grant | 32,185 | — |
| Jun 10, 2026 | Dodds Mark Eugeneofficer: Chief Revenue Officer | Grant | 80,463 | — |
| Jun 10, 2026 | Exner Kenofficer: Chief Product Officer | Grant | 34,725 | — |
| Jun 10, 2026 | Welihinda Navamofficer: Chief Financial Officer | Grant | 56,324 | — |
| Jun 10, 2026 | Banon Shaydirector, officer: Chief Technology Officer | Grant | 31,252 | — |
Source: ESTC SEC Form 4 filings, latest Jun 10, 2026. For informational purposes only — not investment advice.
See the full ESTC insider & 13F page →Elastic N.V. company profile
Overview
Elastic N.V. (NYSE:ESTC) is a search and analytics company founded in 2012 and headquartered in Mountain View, California. The company went public in October 2018 and has established itself as a leading provider of search, observability, and security solutions built on its core Elastic Stack technology platform. Elastic operates in the enterprise software market, serving thousands of organizations worldwide with both cloud-based and self-managed deployment options for data search, analysis, and visualization needs.
Business
Elastic operates in the enterprise search and data analytics software industry, providing organizations with tools to search, analyze, and visualize large volumes of data in real-time. The company's core offering is the Elastic Stack, a comprehensive suite of open-source and commercial software products that work together to ingest, store, search, and analyze data from various sources. The Elastic Stack consists of several key components: Elasticsearch serves as the distributed search and analytics engine that can handle structured and unstructured data; Kibana provides the user interface for data visualization and system management; Logstash processes and transforms data before sending it to Elasticsearch; Beats are lightweight data collectors that send information from edge systems; and Elastic Agent offers unified data collection and security monitoring capabilities. The company's solutions address three primary use cases that represent its business segments: 1. Observability (approximately 40% of revenue): Helps organizations monitor application performance, infrastructure metrics, and system logs to ensure optimal IT operations and quickly identify issues. 2. Security (approximately 25% of revenue): Provides security information and event management (SIEM), endpoint detection and response, and threat hunting capabilities to protect against cyber threats. 3. Search (approximately 35% of revenue): Enables enterprise search, e-commerce search, and increasingly, generative AI applications through vector search and retrieval-augmented generation (RAG) capabilities. Elastic offers its solutions through two primary deployment models: Elastic Cloud, a fully managed service hosted on major cloud platforms, and self-managed deployments where customers run the software on their own infrastructure.
Revenue model
Elastic generates revenue primarily through subscription-based software licensing, which accounts for over 90% of total revenue, with the remainder coming from professional services. The company operates on a consumption-based pricing model where customers pay based on their actual usage of compute, storage, and data processing resources. Revenue streams include: Elastic Cloud subscriptions (47% of total revenue and growing 26% year-over-year), where customers pay monthly or annually for managed cloud services; self-managed subscriptions for on-premises deployments; and professional services including implementation, training, and support services. The company's customers span enterprise organizations, mid-market companies, and some small businesses across industries including technology, financial services, retail, healthcare, and government. Paying customers include over 1,160 organizations with annual contract values exceeding $100,000, and more than 140 customers spending over $1 million annually. Several factors influence Elastic's margins and profitability. Positive margin drivers include the shift toward higher-margin cloud services, increased adoption of generative AI features that command premium pricing, platform consolidation where customers replace multiple tools with Elastic's unified platform, and the scalable nature of software licensing. Margin pressures come from significant investments in research and development (particularly for AI capabilities), sales and marketing expenses to drive customer acquisition, cloud infrastructure costs that scale with customer usage, and competitive pricing pressure in the crowded observability and security markets. The company has also faced challenges from macroeconomic conditions affecting customer spending patterns, particularly among smaller businesses.
Competitive moat
Elastic's competitive moat is moderate but strengthening, built primarily around several key factors. The company benefits from data network effects where the value of its platform increases as customers store more data and build more applications on top of it, creating switching costs. Its open-source heritage has fostered a large developer community and ecosystem, making Elasticsearch a de facto standard for search applications and creating familiarity that reduces adoption friction. The company's technical differentiation includes superior vector database capabilities for AI applications, hybrid search combining traditional and semantic search, and the ability to handle massive scale data processing. Elastic also benefits from platform consolidation trends where organizations prefer unified solutions over point products, and its comprehensive offering spanning search, observability, and security creates cross-selling opportunities and higher switching costs. However, Elastic faces significant competitive threats. In observability, it competes against established players like Splunk, Datadog, and New Relic; in security, against traditional SIEM vendors and newer players like CrowdStrike and SentinelOne; and in search, against cloud hyperscaler offerings and specialized AI companies. The rapid evolution of generative AI presents both opportunity and risk, as large technology companies with deeper resources could potentially commoditize search and analytics capabilities. Additionally, Elastic's open-source roots mean that cloud providers could potentially offer competing managed services based on similar technology, though the company has implemented licensing changes to address this concern. The moat is strengthening due to AI capabilities and increasing data volumes, but remains vulnerable to well-funded competitors and potential disruption from cloud hyperscalers.
Risks & safety
Elastic demonstrates a moderate margin of safety with solid financial fundamentals but some areas of concern. • Liquidity and Solvency: Strong cash position of $584 million with current ratio of 2.02, indicating good short-term liquidity. Free cash flow positive at $87 million quarterly, though operating cash flow can be volatile. • Debt Levels: Debt-to-equity ratio of 0.68 is manageable, though the company carries convertible debt that could dilute shareholders upon conversion. • Profitability Trends: Company remains unprofitable on a GAAP basis with net losses, though EBITDA has turned positive. Non-GAAP operating margins around 16-17% show underlying operational efficiency. • Valuation Metrics: Trading at high multiples with P/B ratio of 13.6 and EV/EBITDA over 200x, indicating expensive valuation that leaves little room for execution missteps. • Growth Sustainability: Revenue growth of 17% is healthy but decelerating from previous years. Cloud segment growth of 26% provides some confidence in the transition strategy. • Other Considerations: Customer concentration risk exists with enterprise focus, and the company faces execution challenges from recent sales organization changes that impacted deal closures.
Recent development
Over the past few years, Elastic has undergone significant strategic evolution, with the most prominent development being its aggressive push into generative artificial intelligence. The company has positioned itself as a platform for enterprise AI applications, with over 1,750 cloud customers now using GenAI capabilities and more than 270 customers spending over $100,000 annually on AI-related use cases. This represents nearly doubling of GenAI customer commitments quarter-over-quarter and includes multiple seven-figure deals. Key product innovations include the launch of Elastic Cloud Serverless (now generally available on AWS with Azure preview), which promises to simplify customer onboarding and potentially improve gross margins. The company introduced LogsDB Index Mode for more efficient log storage, the Elastic Rerank model for improved search relevance, and enhanced vector database capabilities that support retrieval-augmented generation (RAG) applications. Strategically, Elastic has implemented significant sales organization changes, particularly in the Americas, refocusing on enterprise and high-potential mid-market segments while de-emphasizing small business customers. While these changes initially caused execution challenges and deal closure difficulties in early fiscal 2025, the company reports improved pipeline creation and progression. The company has also made important licensing and open-source strategy adjustments, adding an AGPL license option for Elasticsearch source code to increase engagement in the GenAI ecosystem while protecting against cloud provider commoditization. Additionally, Elastic has strengthened partnerships with cloud hyperscalers and expanded its platform consolidation strategy, helping customers replace multiple point solutions with its unified search, observability, and security platform.
ESTC company profile · for informational purposes only — not investment advice.
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