10 AI News Taking Wall Street By Storm

5. Elastic N.V. (NYSE:ESTC)

Number of Hedge Fund Holders: 47

Elastic N.V. (NYSE:ESTC) is a search AI company offering cloud-based solutions. The solutions enable users to bring in all kinds of unstructured data and quickly make the data searchable. On December 16, Morgan Stanley analyst Sanjit Singh initiated coverage of Elastic (ESTC) with an Overweight rating and a $130 price target. The analyst told investors in a research note that Elastic’s core end search market is “poised to accelerate”. This is because customers are modernizing search experiences and bringing in generative artificial intelligence early in their applications. Strong customer feedback and innovative developments position Elastic firmly to maintain its market share.