Elastic jumps after increasing targets at Analyst Day, announcing share buyback program

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Elastic N.V. (NYSE:ESTC [https://seekingalpha.com/symbol/ESTC]) shares leaped 9% during early post-market action on Thursday following its Analyst Day presentation that featured higher revenue guidance.

The Netherlands-based software company increased its second quarter fiscal 2026 guidance to range from $417M to $419M compared to its prior guidance of $415M to $417M. It also bumped up its full fiscal year 2026 guidance to range from $1.69B to $1.7B compared to earlier guidance of $1.68B to $1.69B.

The company also announced a $500M share buyback program.

"Our share repurchase program reflects the Board and management team's confidence in the strength of Elastic's business, strategy and execution," said Elastic CFO Navam Welihinda.

In a busy day for the company, it also completed its acquisition of Jina AI, a pioneer in open source multimodal and multilingual embeddings, reranker, and small language models.

"Jina AI's team and technology bring cutting-edge models into the Elastic ecosystem, making our platform even more powerful for context engineering," said Elastic CEO Ash Kulkarni. "Together, we are expanding what developers and enterprises can achieve with search-powered AI, while staying true to our commitment to openness and accessibility."

Elastic also revealed Elastic Inference Service, a GPU-accelerated inference-as-a-service for Elasticsearch semantic search, vector search, and generative AI workflows.

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