Analyst Lucky Schreiner of DA Davidson assumed coverage on Elastic N.V. with a Neutral rating and a price target of $105.00. The company reported strong 1Q26 results and provided better-than-expected guidance, leading to a surge in shares after hours. There is a growing demand for Elastic’s AI Search functionality in the market.

Elastic N.V. is a search AI company offering cloud-based solutions. While ESTC shows potential as an investment, other AI stocks may offer greater upside potential with less downside risk. Investors seeking undervalued AI stocks can explore further in a free report on the best short-term AI stock.

For more insights on AI stocks, check out “10 AI Stocks Hit with New Analyst Ratings” and “10 AI Stocks Investors Should Keep on Their Radar.” Disclosure: None.

Read more at Yahoo Finance: Elastic (ESTC) Coverage Initiated at Neutral by DA Davidson With $105 Target