$ESTC

In Tuesday premarket trading, Palantir (PLTR) shares rose over 26% after its Q2 results and raised full-year revenue outlook, citing strong demand for its AIP. The move lifted other enterprise software and cybersecurity stocks including Snowflake (SNOW), Elastic (ESTC), Akamai (AKAM), and Varonis Systems (VRNS). The article also cites lower Treasury yields from reduced Middle East conflict risk.

Software stocks rose in the afternoon session as easing US-Iran tensions lowered Treasury yields and supported growth tech. The article cites AI-related deal activity including Yellow.ai’s $550 million SPAC merger with Bluerock (ticker YAI) and AutoRek’s acquisition of Grath. It highlights gains in Intuit, BILL, Workiva, Elastic, and Autodesk, and notes Elastic’s $69.37 price and 26.6% discount to its 52-week high.

Elastic said it is advancing its agentic SOC with updates to Attack Discovery, which now performs autonomous triage and investigation before flagging threats, and can draft detection rules for analyst approval. Elastic also plans automatic YARA rule deployment for vulnerable driver exploits, adds Windows on ARM support, and updates Elastic Workflows with human-in-the-loop routing. Elastic (NYSE: ESTC) said the features are available to Elastic Security customers.

Collaboration combines OpenAI’s advanced reasoning models with governed enterprise context in Elasticsearch across AI applications, security operations, and observability SAN FRANCISCO, July 30, 2026 — Elastic today announced an expanded collaboration with OpenAI to help organizations build production-ready AI applications and agents using OpenAI models with Elasticsearch.

Stocks rose Monday on company or policy news. Zoom (ZM) gained 3.6% after opening API access to all customers, including trial accounts, and expanding Zapier integration. TransDigm (TDG) rose 4.1% on a deal to buy Prince & Izant for about $1.066B cash. Elastic (ESTC) up 5.2% on Jina On-Prem. Rocket Lab (RKLB) up 1.9% on a $266M U.S. Space Force launch contract. Tyson Foods (TSN) up 6.4% as USDA resumed cattle imports from Mexico amid Canadian tariff news.

Elastic (NYSE: ESTC) shares rose 5.2% intraday and closed at $61.21, up 3.6%, after the company launched Jina On-Prem to let customers run its Jina AI models in secure on-premises and air-gapped environments. The offering targets regulated industries needing data kept in-house. The article also notes prior Morgan Stanley downgrade and a 15.6% YTD decline.

Piper Sandler analyst Rob Owens told clients that five infrastructure software firms are positioned to reduce AI token costs by using proprietary customer data to cut token usage for AI agents. The note named Elastic (ESTC), GitLab (GTLB), MongoDB (MDB), Snowflake (SNOW), and Atlassian (TEAM), citing early 50% to 75% token savings and consumption-based pricing.

Piper Sandler analysts, led by Rob Owens, said five infrastructure software firms could benefit as enterprises seek to cut AI token costs by 50% to 75%. The note named Elastic, GitLab, MongoDB, Snowflake and Atlassian, citing use of existing enterprise data to improve model efficiency and reduce token usage amid higher consumption from newer models.

Elastic (NYSE: ESTC) shares fell about 4% after Morgan Stanley downgraded the stock to Equal Weight from Overweight and cut its price target to $66 from $73. The bank cited slower-than-expected growth in Elastic’s AI search, tougher competition in security, and late-June executive departures and restructuring. Shares later traded around $60.17.

Elastic (ESTC), Veeva (VEEV), SentinelOne (S), ServiceNow (NOW) and Salesforce (CRM) rose in an afternoon rotation into oversold enterprise software. NOW gained 4.3% and CRM 2.4% as investors cited AI monetization add-ons, including NOW raising its Now Assist AI contract target to $1.5B and Salesforce scaling Agentforce. Semis fell as Nasdaq slipped.