10 Best Growth Stocks Under $100 to Buy Now

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

Number of Hedge Fund Holders: 64

Expected EPS CAGR in the next 5 years: 27.51%

Elastic N.V. (NYSE:ESTC) is a search and data analytics company that provides solutions for enterprise search, observability, and security. Its core product, the Elastic Stack, includes Elasticsearch, Kibana, Beats, and Logstash, enabling organizations to ingest, store, analyze, and visualize data in real time. ESTC’s platform is used for applications such as site search, log and metrics monitoring, threat detection, and cloud security. The company offers both self-managed and cloud-based deployment options through Elastic Cloud. Serving industries like technology, finance, healthcare, and government, ESTC operates on a subscription-based model and focuses on scalability, AI-driven search, and open-source innovation.

Elastic N.V. (NYSE:ESTC) demonstrated strong performance with revenue growth sustained at 17% and cloud business acceleration to 26% from 25%. The company saw robust demand across its core segments, particularly in search where GenAI continues to be a significant driver, securing 5 deals greater than $1 million in commitments related to GenAI in Q3. The company has successfully recovered from its Q1 sales execution challenges, with sales performance returning to historical levels and showing broad-based strength across observability and security segments. From a financial perspective, ESTC has shown significant margin improvement, with current guidance for FY2025 non-GAAP operating margin at 14.7%, a meaningful increase from 11% in FY2024.

Looking ahead, Elastic N.V. (NYSE:ESTC) is positioning itself strongly in the GenAI space with over 1,750 customers using their platform for building AI applications. The company’s strategic focus includes continued investment in GenAI capabilities, leveraging their native AI stack for observability and security solutions, and maintaining their leadership position in unstructured data management. Management plans to continue investing in sales capacity, solution-specific overlays, marketing, and product development while maintaining a balance between revenue growth and profitability. Given the robust demand experienced in the recent quarters, ESTC is one of the best growth stocks under $100 to buy now.