Elastic (ESTC) Q2 2026 earnings — TrendMatrix coverage
Reported
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Full disclosure
Key numbers
- Reported EPS
- $0.70
- Estimate
- $0.58
- Surprise
- +19.9%
- Revenue (period 2026-07-31)
- $478.1M
- Score at report (before → after)
- 5.8 → 5.7/10
Revenue source: xbrl.
How the report landed
Elastic (ESTC) beat the $0.58 estimate with diluted EPS of $0.70 — a large 19.9% upside surprise. TrendMatrix's engine moved from Hold (5.8/10) to Sell at 5.7/10 after the report — the engine's score fell despite the beat.
Where TrendMatrix's rating stands now
TrendMatrix currently rates ESTC Sell at 5.7/10.
4 of the last 4 quarters beat the estimate; this quarter's +19.9% surprise compares with a +13.1% four-quarter average. Next scheduled report: 2026-11-19.
What supports the rating
- Strong earnings beat streak (4/4)
- Wide economic moat
What argues against it
- Analyst target reached - limited upside remaining
- Sector modifier (Technology): -0.8
- Target reached (-1.2% upside)
This section and the ones below it reflect TrendMatrix’s latest engine read — they update after the report date and are not frozen to it.
The levels TrendMatrix's engine tracks
- Current price
- $96.30
- Price target
- $105.84
- Stop
- $89.40
- Upside to target
- +9.9%
At 26.3× trailing and 22.7× forward earnings, consensus estimates imply little change in earnings power.
Model outputs from TrendMatrix’s engine as of 2026-09-04 — shown for context, not personalized investment advice.
ESTC at TrendMatrix's latest read
Technology names get repriced on forward expectations more than trailing prints — a quarter here is read through next-year growth and multiple, not the EPS line alone.
- Industry
- Software - Application
- Market cap
- $9.41B
- P/E (fwd)
- 22.7
- P/E (ttm)
- 26.3
- 52-week range
- $42.05–$108.00
- Off 52-week high
- 10.8%
- RSI (14)
- 59
- Volume vs avg
- 1.20×
- Score today
- 5.7/10