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Elastic reported strong financial results for the second quarter of fiscal 2025, with earnings per share (EPS) of $0.59, surpassing analyst expectations by $0.21. Revenue reached $365 million, exceeding estimates by $10.73 million. Following these results, Baird upgraded Elastic's stock to 'Outperform' from 'Neutral,' raising its price target to $135 from $95. The company also increased its guidance for the third quarter, attributing its positive performance to a successful transition into generative AI technologies. The stock surged by 29% after the earnings announcement, reflecting investor confidence in the company's strategic direction and execution.
ICYMI - .@Elastic posts Q2 rebound, ups Q3 outlook https://t.co/IuhOaU3p8U Elastic upped its outlook for the third quarter following better-than-expected second quarter results as its plan to extend from search into generative AI paid off. #Earnings
.@Elastic posts Q2 rebound, ups Q3 outlook https://t.co/IuhOaU3p8U Elastic upped its outlook for the third quarter following better-than-expected second quarter results as its plan to extend from search into generative AI paid off. #Earnings https://t.co/K2UscMHbn1
.@Elastic posts Q2 rebound, ups Q3 outlook https://t.co/x7uPYd5dN6 Elastic upped its outlook for the third quarter following better-than-expected second quarter results as its plan to extend from search into generative AI paid off.