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$ESTC Elastic N.V Deep Dive and 2024 Outlook

$ESTC Elastic N.V Deep Dive and 2024 Outlook

The SaaS company is on a reversal path to higher highs

Mukund Mohan's avatar
Mukund Mohan
Jul 12, 2024
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$ESTC Elastic N.V Deep Dive and 2024 Outlook
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Elastic N.V. is a leading provider of search-powered solutions for enterprises. Founded in 2012 by Shay Banon, Steven Schuurman, Uri Boness, and Simon Willnauer, the company is headquartered in Amsterdam. Elastic's primary offering is the Elastic Stack, a powerful set of software products that ingest and store data from any source and perform search, analysis, and visualization in milliseconds. The Elastic Stack is designed for direct use by developers to power a variety of use cases, including app search, site search, enterprise search, logging, metrics, APM, business analytics, and security analytics. Elastic's products are used by companies across a wide range of industries, including technology, healthcare, financial services, government, telecom, media, retail, transportation, and higher education. Some of Elastic's notable customers include Microsoft, Netflix, Verizon, Airbus, Home Depot, Mayo Clinic, JPL NASA, eBay, and the U.S. Census Bureau. The company has also developed a family of SaaS products called Elastic Cloud, which are hosted and managed on infrastructure from multiple public cloud providers.

The big questions for Elastic and the stock in 2024

  1. Can Elastic N.V. sustain this rapid growth in its cloud business?

  2. What is the impact of competition on Elastic N.V?

  3. How quickly will customers adopt these AI-powered features, and will they drive further growth for the company?

  4. Can the company continue to grow its customer base and maintain high retention rates?

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