Changes in US stocks | Some AI application software stocks continued to rise after Elastic (ESTC.US) performance surged by more than 24%

Zhitongcaijing · 1d ago

Zhitong Finance App learned that on Friday, some US AI application software stocks continued to rise. Elastic (ESTC.US) surged more than 24% after the performance, AppLovin (APP.US) rose nearly 4%, and CRM.US (CRM.US) and ServiceNow (NOW.US) rose nearly 2%. According to the news, the latest results announced by software company Elastic exceeded expectations, with total revenue of US$478 million, up 15% year on year; remaining performance obligations were US$1,854 million, up 27% year on year.

Ash Kulkami, CEO of Elastic, said: “Elastic had a strong start to the 2027 fiscal year and surpassed our guidelines on all of our key metrics. “Artificial intelligence is reshaping enterprise technology stacks, and organizations are consciously choosing where to build and how to observe and protect their applications and data. Our record quarterly net customer growth, reaching the >$100,000 ACV group, and continued strong growth in CrPO and RPO reflect the persistence of this demand. At the beginning of the year, we were gaining momentum in the fields of search and artificial intelligence, security and observability, and we are confident that our business will grow.”