Elastic N.V. is a technology company that specializes in search, observability, and security solutions. The company develops the Elastic Stack, an integrated suite of open-source tools that allows organizations to efficiently index, search, and analyze vast amounts of data in real-time. Their products empower businesses to gain valuable insights from structured and unstructured data, making it easier to monitor infrastructure performance, enhance security measures, and optimize application development. Elastic's offerings are leveraged by companies worldwide to improve decision-making and enhance operational efficiencies across various industries.
Elastic (NYSE: ESTC), the Search AI Company, announced Elastic Rerank, a cross-encoder reranking model that offers powerful semantic search capabilities with no required reindexing, and high relevance, top performance, and efficiency for text search. Developers can now semantically boost keyword search with little to no change to how data is indexed and searched, providing flexibility and control over costs.
Elastic (NYSE: ESTC), the Search AI Company, announced Elastic Security now offers expanded cloud detection and response (CDR) capabilities from a single SIEM to reduce tool fragmentation and streamline cloud security. The additional features include agentless ingestion, cloud asset inventory, extended protections, and graph view that enables out-of-the-box correlation and context enrichment using customers’ existing data.
Elastic (NYSE: ESTC), the Search AI Company, announced today it is a recipient of a 2024 Geography and Global AWS Partner Award, recognizing leaders that are playing key roles in helping their customers drive innovation and build solutions on Amazon Web Services (AWS). Elastic was named the Global Generative AI Infrastructure and Data Partner of the Year, which recognizes top technology partners with the Generative AI Competency that support vector embeddings data storage and management, or synthetic data generation in various formats.
Elastic (NYSE: ESTC), the Search AI Company, today announced the general availability of its Elastic Cloud Serverless powered by a re-architectured Elasticsearch that is built on an industry-first Search AI Lake optimized for real-time applications. It combines vast storage with low-latency querying and all of the strengths of Elasticsearch’s AI and search capabilities.
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Shares of search software company Elastic (NYSE:ESTC)
jumped 6.6% in the morning session after Wedbush analyst Dan Ives upgraded Elastic and Snowflake, two of the SaaS stocks that reported strong financial results during the Q3 2024 earnings season.
Dan Ives, a Wedbush analyst, has reaffirmed his $75 price target for Palantir, citing strong growth potential driven by its AI advancements and software solutions, despite skepticism from some market analysts.
Wedbush Securities' Daniel Ives upgrades Snowflake and Elastic to Outperform, raises price targets for Palantir and Salesforce due to projected AI-driven growth and enterprise adoption.
Elastic (NYSE: ESTC), the Search AI Company, announced today it is strengthening its relationship with Amazon Web Services (AWS) by leveraging the latest generative artificial intelligence (AI) services from AWS. As part of this collaboration, Elastic is offering large language model (LLM) observability support for Amazon Bedrock in Elastic Observability. Amazon Bedrock is a fully managed service that offers a choice of high-performing foundation models (FMs) from leading AI companies via a single API, along with a broad set of capabilities organizations need to build generative AI applications with security, privacy, and responsible AI.
Wedbush Securities has issued an endorsement of the artificial intelligence software sector, with Managing Director Dan Ives predicting that 2025 will be a pivotal year for AI implementation across the industry. This comes as Palantir Technologies Inc. continues its remarkable ascent, having surged 288% year-to-date.
Shares of search software company Elastic (NYSE:ESTC)
jumped 30.8% in the morning session after the company reported a "beat and raise" quarter. Elastic blew past analysts' billings and revenue estimates, primarily driven by strong growth in the cloud business, which rose 25% year on year. Despite some of the challenges recorded in recent quarters, the improved top-line performance suggests that the focus on key enterprise and high-potential mid-market customers is bearing fruit.
Search software company Elastic (NYSE:ESTC) reported Q3 CY2024 results beating Wall Street’s revenue expectations, with sales up 17.6% year on year to $365.4 million. The company expects next quarter’s revenue to be around $368 million, close to analysts’ estimates. Its non-GAAP profit of $0.59 per share was 54.7% above analysts’ consensus estimates.
