Elastic (ESTC) finds itself back in the news following the announcement of a $500 million share-repurchase authority, a development that highlights management's confidence in the execution and balance sheet of the company. This comes on the back of an excellent first quarter of the FY 2026, during which Elastic outpaced Wall Street forecasts across the board on the back of gaining traction for its AI-powered search, security, and observability offerings. The buyback move arrives with the larger software i ...