Elastic NV’s shares rose 20.3% to $100.70 in after-hours trading Thursday, extending gains to close at $101.14 after the company reported a quarterly earnings beat and upwardly revised guidance.
Options activity on the stock surged to 10,426 contracts, with call options outpacing puts by a margin of nearly three-to-one. A total of 7,793 call contracts traded against 2,633 put contracts, reflecting heightened bullish sentiment. Among the most active strikes, January 2027 $60 calls saw 907 contracts with open interest of 1,534, while September 2026 $100 calls traded 758 contracts with open interest of 1,789.
Volatility metrics also shifted in response to the earnings release. Three-month realized volatility declined 19.4 percentage points to 55.5%, while the 90/110 skew—a gauge of out-of-the-money call demand—rose 3.3 points to 3.3%, indicating increased appetite for upside exposure.
Analysts responded to the company’s improved outlook by revising price targets. Wells Fargo lifted its target to $100, citing stronger fundamentals and raised guidance. Elastic’s Q1 results exceeded expectations for both earnings per share and revenue, reinforcing market confidence in the software provider’s growth trajectory.
