11 Trending AI Stocks on Latest News and Ratings

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

Number of Hedge Fund Holders: 64

Elastic N.V. (NYSE:ESTC) is a search artificial intelligence (AI) company that delivers hosted and managed solutions designed to run in hybrid and multi-cloud environments. It offers Elastic Stack, a set of software products that ingest and store data from various sources and formats and perform search, analysis, and visualization of that data. On February 27, the company delivered solid fiscal 2025 third-quarter results that exceeded guidance across all revenue and profitability metrics.

Revenue in the quarter was up 17% year over year to $382 million, as elastic cloud revenue increased 26% to $180 million. The robust revenue growth underscores growth momentum across all aspects of the business amid strong demand for products as Elastic N.V. (NYSE:ESTC) seeks to become a leader in Search AI.

“Continued interest from customers building Generative AI applications and consolidating onto a single platform helped drive our outperformance during the quarter,” said Ash Kulkarni, Chief Executive Officer of Elastic.