12 Best Big Data Stocks To Buy According to Hedge Funds

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

Number of Hedge Fund Holders: 47

Elastic N.V. (NYSE:ESTC) combines the precision of search with the intelligence of AI. The company enables its customers to find the answers they need in real-time, using all of their data, at scale.

The firm’s platform, Elastic Search AI Platform is available as both a hosted, managed service across public clouds as well as self-managed software, allowing its customers to find insights and drive AI and machine learning use cases from large amounts of data. The firm offers three search-powered solutions including Search, Observability, and Security, that are built on the platform. The platform features are promising and include being able to securely store and quickly access all data from megabytes to petabytes, explore data, spot trends, and anomalies, find insights, and share results with Elastic’s fully integrated data visualization user interface, as well as making it easy to find exactly what one is looking for.

For the second quarter of fiscal 2025 which ended on October 31, Elastic N.V. (NYSE:ESTC) recorded a revenue increase of 18% year-over-year. Elastic Cloud revenue was $169 million, witnessing a rise of 25% year-over-year. As digital transformation drives mission-critical business functions to the cloud, the firm believes that companies need to incorporate search AI capabilities across IT and line-of-business organizations to find the answers that matter from all of their data in real time and at scale. Thus, Elastic is helping businesses looking to leverage big data.

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