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Elastic (ESTC) came out with quarterly earnings of $0.36 per share, beating the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.17 per share a year ago.
Tracking 13F filings is crucial for market participants seeking to understand trends, identify potential investment opportunities, and monitor the transactions of Wall Street's most influential investors. Stock Strategist Andrew Rocco breaks down the 3 most important filings this 13F season.
Elastic CEO Ashutosh Kulkarni discusses how his company is using AI for the cloud and cybersecurity markets.
Elastic's significant strides in profitability improvement, with an estimated 65% year-over-year increase to approximately $230 million in fiscal 2025, form a compelling basis for a bullish outlook. Despite facing challenges like slowing revenue growth rates, ESTC's innovative adeptness in optimizing deployments for existing customers positions it well. While the stock's multiple has compressed over time, the low expectations embedded in the share price create an opportunity for upward movement.
The Elasticsearch platform gained 200 new customers in Q2 of fiscal year 2024. The company's long-term potential is bolstered by its behind-the-scenes role in the generative AI market.
While large-cap database stocks Oracle Corp. NYSE: ORCL and MongoDB Inc. NASDAQ: MDB are pulling back in December after November gains, mid-cap Elastic N.V. NYSE: ESTC is up 44.11% in the last month of the year.
While the Magnificent 7 technology stocks of Alphabet Inc. NASDAQ: GOOGL, Amazon Inc. NASDAQ: AMZN, Apple Inc. NASDAQ: AAPL, Meta Platforms Inc. NASDAQ: META, Microsoft Corp. NASDAQ: MSFT, Nvidia Corp. NASDAQ: NVDA and Tesla Inc. (NASDAQ; TSLA) leading the market higher in 2023, AI has also gotten a place in the spotlight.
The Nasdaq-100 technology index surged in 2023, but several AI stocks have outperformed its return. One little-known AI stock, Elastic, has more than doubled this year.
Continuing their streaks of exceeding quarterly earnings expectations, the expansion of these companies should definitely be on investors' radars.
Elastic beat financial expectations in its latest quarter. The company's embrace of AI is fueling excitement among its customer base.