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Monness Crespi & Hardt Upgrades Elastic N.V. (ESTC) Stock

Elastic N.V. (NYSE:ESTC) is one of the Top 10 AI and Technology Stocks to Buy According to Analysts. On June 27, Monness Crespi & Hardt upgraded the company’s stock from “Neutral” to “Buy,” setting the price objective of $111.0, as reported by The Fly. As per the firm, after a decline in 2024, the company’s shares have declined ~17% this year, while AI-fueled tech stocks managed to climb to new all-time highs in 2025. Considering the depressed EV/Revenue multiple as compared to the consumption-based software group and the firm’s software universe at large, it finds Elastic N.V. (NYSE:ESTC)’s valuation compelling at current levels. The firm opines that the company remains well-placed for the GenAI movement, added the analyst.

A group of software engineers working in an open, futuristic office.

Elastic N.V. (NYSE:ESTC) continues to demonstrate its leadership in Search AI, with customers continuing to build Generative AI applications and consolidating onto its platform. Elastic N.V. (NYSE:ESTC)’s total customer count with Annual Contract Value (ACV) over $100,000 was more than 1,510 in Q4 2025 as compared to over 1,460 in Q3 FY 2025, and over 1,330 in Q4 FY 2024. For Q1 2026, the company expects total revenue of between $396 million – $398 million, reflecting 14% YoY growth at the midpoint (13% YoY constant currency growth at the midpoint).

Elastic N.V. (NYSE:ESTC) is a search AI company that is engaged in providing software platforms to run in hybrid, public, or private clouds and multi-cloud environments.

While we acknowledge the potential of ESTC to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ESTC and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 13 Cheap AI Stocks to Buy According to Analysts and 11 Unstoppable Growth Stocks to Invest in Now

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The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

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It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

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