RBC Capital Lifts Elastic (ESTC) Price Target GenAI and Strong Outlook

Elastic N.V. (NYSE:ESTC) ranks among the best predictive analytics stocks to buy right now. RBC Capital reaffirmed its Outperform rating on Elastic N.V. (NYSE: ESTC) and boosted its price target from $106 to $125 on August 29. Elastic’s “strong start to the year”, which saw performance surpassing projections on every metric, led the company to increase its fiscal year 2026 guidance in the face of stable macroeconomic conditions.

RBC Capital cited a slight price rise, security displacements, and strong traction in generative AI driving usage expansion as the main drivers of the improved outlook.

Elastic N.V. (NYSE:ESTC) is a software company that provides solutions for search, logging, analytics, security, and observability. With its machine-learning capabilities, the company allows users to automate a wide range of tasks, including anomaly detection and root cause analysis.

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.

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Disclosure: None. This article is originally published at Insider Monkey.