Elastic N.V. (E2ST34) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Elastic N.V. BRL 41.62, price BRL 37.84, upside +10.0%, quality 66 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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Elastic N.V.
E2ST34 · SANeutralQuality growthThe stock looks roughly fairly valued with average quality.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range R$17.88 – R$84.00 · fair‑value band R$25.80 – R$75.93 · the R$37.84 price screens below the R$41.62 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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Company profile
Elastic N.V., a search artificial intelligence (AI) company, provides software platforms to run in hybrid, public or private clouds, and multi-cloud environments in the United States and internationally.
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Elastic N.V., a search artificial intelligence (AI) company, provides software platforms to run in hybrid, public or private clouds, and multi-cloud environments in the United States and internationally. It primarily offers Elastic's Search AI Platform, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data. The company also provides Elastic search product a distributed, real-time vector database and analytics engine and data store for all types of data, including textual, numerical, geospatial, structured, and unstructured; Kibana, a user interface, management, and configuration interface for the platforms; Elasticsearch search platform, a platform with retrieval algorithms and the ability to integrate with large language models; and elastic security, a security solution that provides unified protection to prevent, detect, and respond to threats. In addition, it offers Elastic Observability, a solution that enables unified analysis, including Logs analytics to search and analyze petabytes of structured and unstructured logs; infrastructure monitoring to gain visibility across cloud, on-premises, Kubernetes, serverless, and hosts; Application Performance Monitoring to stream native production-grade; digital experience monitoring; and large language models. The company was incorporated in 2012 and is based in Amsterdam, the Netherlands.
Stock analysis
Elastic N.V. (E2ST34) currently trades at R$37.84, while our model-based Fair Value estimate is R$41.62, implying the stock looks roughly 9.1% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of R$38.94 per share, and 6 of the 18 models we run sit above the R$37.84 price.
Bear case: the Multiples group reads lowest at R$11.75, and 12 of the 18 models stay below the price. Evidence for this calculation is medium.
Scenario range: R$25.80 (bear) to R$75.93 (bull), the price of R$37.84 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 66/100 (solid quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Elastic N.V. reported revenue of $1.7B in FY2026 versus $862M in FY2022, a compound +19.2%/yr. Reported net income was $368M in FY2026.
Key figures
Market cap R$33.4B (≈ $6.4B) · P/E ratio 25.6 · P/S ratio 5.41 · EPS (TTM) R$1.48 · Net margin 21.1% · Return on equity 33.4% · Return on assets (EBIT) −6.4% · Operating margin −3.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
The share trades about 13% below its 52-week high and 112% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −8% fair-value upside, at 10%, E2ST34 screens cheaper than that median.
Fair Value models
All 18 models by family
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Set up alert →Quality Score breakdown
Of which business quality 68 · Market factors (momentum, volatility) 56
Revenue & earnings trend
Growth Forecast
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Compare Elastic N.V. with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Software - Application · 684 stocks
Valuation Multiplesvs Software - Application median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Consumer Staples sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Software - Application stocks, each showing price versus our Fair Value estimate.
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|---|---|---|---|
| SAP SE SAP | €186.74 | €172.46 | −8% |
| Salesforce, Inc CRM | $229.57 | $342.73 | +49% |
| Shopify Inc SHOP | $144.01 | $64.36 | −55% |
| ServiceNow, Inc NOW | $134.01 | $147.41 | +10% |
| Uber Technologies, Inc UBER | $69.36 | $103.69 | +49% |
| Snowflake Inc SNOW | $330.31 | $74.36 | −77% |
| Automatic Data Processing, Inc ADP | $261.80 | $150.01 | −43% |
| Adobe Inc ADBE | $239.94 | $454.04 | +89% |
| Datadog, Inc DDOG | $268.70 | $32.52 | −88% |
| Cadence Design Systems, Inc CDNS | $326.70 | $225.48 | −31% |
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Key figures of Elastic N.V.
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