Top 10 AI Stocks on Wall Street’s Radar

2. 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. On January 17, Cantor Fitzgerald analyst Thomas Blakey initiated coverage of 18 names in infrastructure and artificial intelligence software, one of which is Elastic N.V. (NYSE:ESTC). The firm initiated coverage of Elastic (ESTC) Company with a “Neutral” rating and a $108 price target. The analysts told investors in a research note that the value proposition of infrastructure software is going to increase further, driven by the ongoing secular expansion of AI and generative AI. These trends “fuel the need” for observable infrastructure, unified, secure, and highly integrated data systems, real-time computing and networking capabilities, and enhanced workflows and collaboration. Increased usage and consumption are likely going to drive the monetization of artificial intelligence.