Professional
Added to YB: 2024-02-27
Pitch date: 2024-02-23
ESTC [bullish]
Elastic N.V.
-41.66%
current return
Author Info
No bio for this author
Company Info
Elastic N.V., a search artificial intelligence (AI) company, provides software platforms to run in hybrid, public or private clouds, and multi-cloud environments in the United States and internationally.
Market Cap
$8.7B
Pitch Price
$130.81
Price Target
185.00 (+142%)
Dividend
N/A
EV/EBITDA
-890.03
P/E
-79.15
EV/Sales
4.90
Sector
Software
Category
growth
$ESTC: Riding the Wave of Enterprise AI (Scotiabank)
ESTC: Scotiabank PT $185 on strong position in enterprise generative AI search, set for major growth. Large install base + ELSER model simplify semantic search deployment. Transformative potential undervalued despite recent stock surge from low $40s. Revenue reacceleration expected late F24, F25 growth to beat modest Street forecasts. NPM data supports 2H24 consensus beat. AI-powered search is main strength, with big financial & competitive edge seen in F24-F25.
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