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Elastic N.V. - ESTC STOCK NEWS

Welcome to our dedicated page for Elastic N.V. news (Ticker: ESTC), a resource for investors and traders seeking the latest updates and insights on Elastic N.V. stock.

Elastic N.V. (symbol: ESTC) is a leading software company that empowers organizations worldwide with real-time insights by making structured and unstructured data usable for various applications. Founded in 2012, Elastic is the brainchild of the creators of Elasticsearch, Kibana, Beats, and Logstash—collectively known as the Elastic Stack. These open-source projects have grown into powerful tools for search, logging, security, and analytics use cases.

Elastic's global community boasts more than 80,000 members spread across 45 countries, reflecting its significant impact and reach. The company's products have been downloaded over 100 million times, showcasing their widespread adoption and reliability. Elastic's solutions are trusted by a plethora of high-profile organizations such as Cisco, eBay, Dell, Goldman Sachs, Groupon, HP, Microsoft, Netflix, The New York Times, Uber, Verizon, Yelp, and Wikipedia.

Elastic's offerings include the Elastic Stack, X-Pack, and Elastic Cloud, which are integral to mission-critical systems that drive new revenue streams and substantial cost savings. The company's primary focus areas are enterprise search, observability, and security, enabling businesses to glean actionable insights from their data.

Backed by substantial funding of over $104 million from Benchmark Capital, Index Ventures, and NEA, Elastic has its headquarters in Amsterdam, the Netherlands, and Mountain View, California. The company employs more than 400 people across 30 countries, emphasizing its global presence and collaborative work culture.

Recent achievements include continuous innovation and updates to their product suite, ensuring that Elastic remains at the forefront of the technology landscape. Elastic's commitment to open-source principles and community engagement continues to propel its growth and influence in the data management and analytics sectors.

News

Elastic Reports 8x Speed and 32x Efficiency Gains for Elasticsearch and Lucene Vector Database

Rhea-AI Summary
Elastic, the company behind Elasticsearch, reports significant performance gains in its vector database with up to 8x speed and 32x efficiency. New optimization strategies include multi-threaded search capabilities, accelerated multi-graph vector search, Panama Vector API integration, memory efficiency enhancements, seamless compression improvements, and multi-vector integration. These advancements aim to make Elasticsearch and Apache Lucene the best vector database for generative AI use cases.
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2.52%
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Elasticsearch Open Inference API Supports Cohere Rerank 3

Rhea-AI Summary
Elastic (NYSE: ESTC) partners with Cohere to enhance semantic search retrieval with Elasticsearch open inference API supporting Cohere's Rerank 3 model. This integration provides developers with better search results and improved semantic relevance for large language models.
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1.65%
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Elastic Adds Support for Cohere High-Performance Embeddings

Rhea-AI Summary
Elastic (NYSE: ESTC) announces native support for Cohere's text embedding models in Elasticsearch, offering up to 4x memory savings and 30% faster search without compromising quality. This collaboration aims to enhance semantic search capabilities for enterprise scenarios.
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-0.38%
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New Research from Elastic Finds Conversational Search Could Yield Staggering Productivity Returns

Rhea-AI Summary
Elastic's research reveals the transformative potential of generative AI, with 99% of global IT decision-makers acknowledging its impact. Despite challenges like chaotic data estates and skills gaps, 88% plan increased investments in GenAI. Key findings show high enthusiasm for GenAI benefits like improved efficiency, customer experience, and decision-making, but adoption is hindered by security, regulation, and skills gap concerns. Organizations struggle with siloed data ecosystems, slow decision-making, and search capabilities. However, optimism remains for GenAI to address security and observability challenges.
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-0.59%
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Elastic Reports Third Quarter Fiscal 2024 Financial Results

Rhea-AI Summary
Elastic (NYSE: ESTC) reports Q3 revenue of $328 million, up 19% year-over-year, with Elastic Cloud revenue at $143 million, up 29%. The company's GAAP operating loss was $26 million, with a non-GAAP operating income of $43 million. Cash, cash equivalents, and marketable securities stood at $1.015 billion as of January 31, 2024.
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-12.56%
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Elastic to Present in Upcoming Investor Conference

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Elastic (ESTC) to present at Morgan Stanley Conference on March 6, 2024. Webcast available on Investor Relations page.
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Elastic to Announce Third Quarter Fiscal 2024 Earnings Results on Thursday, February 29, 2024

Rhea-AI Summary
Elastic (NYSE: ESTC) will release its financial results for Q3 fiscal 2024 on January 31, 2024, after the U.S. market close. A conference call to review results and business outlook will follow.
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Elastic Names Mark Dodds Chief Revenue Officer

Rhea-AI Summary
Former Cisco executive Mark Dodds joins Elastic (NYSE: ESTC) as chief revenue officer, bringing 23 years of global sales leadership experience to drive revenue growth and expand the leading search analytics platform. Dodds will oversee global go-to-market functions, including sales, customer success, solutions architecture, ecosystem and partnerships, and sales operations.
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Elastic Completes Acquisition of Opster

Rhea-AI Summary
Elastic (NYSE: ESTC) has completed the acquisition of Opster, the creators of AutoOps and other tools used to help users get more out of their Elastic deployments. This acquisition is expected to open up opportunities for Elastic users through AutoOps and Opster's operational tools.
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Elastic Reports Second Quarter Fiscal 2024 Financial Results

Rhea-AI Summary
Elastic (NYSE: ESTC) reported Q2 revenue of $311 million, up 17% year-over-year, with Elastic Cloud revenue of $135 million, up 31% year-over-year. The GAAP operating loss was $22 million, while non-GAAP operating income was $41 million. The company expects total revenue for Q3 to be between $319 million and $321 million, representing 17% year-over-year growth at the midpoint.
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37.13%
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FAQ

What is the current stock price of Elastic N.V. (ESTC)?

The current stock price of Elastic N.V. (ESTC) is $103.62 as of December 24, 2024.

What is the market cap of Elastic N.V. (ESTC)?

The market cap of Elastic N.V. (ESTC) is approximately 10.7B.

What does Elastic N.V. do?

Elastic N.V. provides software solutions that make structured and unstructured data usable for search, logging, security, and analytics use cases.

When was Elastic N.V. founded?

Elastic N.V. was founded in 2012.

What are the main products of Elastic N.V.?

Elastic's main products include the Elastic Stack, X-Pack, and Elastic Cloud.

Who are some notable customers of Elastic N.V.?

Notable customers include Cisco, eBay, Dell, Goldman Sachs, Groupon, HP, Microsoft, Netflix, The New York Times, Uber, Verizon, Yelp, and Wikipedia.

How many times have Elastic's products been downloaded?

Elastic's products have been downloaded over 100 million times.

Where are the headquarters of Elastic N.V. located?

Elastic N.V. has headquarters in Amsterdam, the Netherlands, and Mountain View, California.

How many employees does Elastic N.V. have?

Elastic N.V. employs over 400 people across more than 30 countries.

What areas does Elastic N.V. focus on?

Elastic N.V. focuses on enterprise search, observability, and security.

Who are the investors backing Elastic N.V.?

Elastic N.V. is backed by Benchmark Capital, Index Ventures, and NEA.

What recent achievements has Elastic N.V. accomplished?

Recent achievements include continuous innovation and updates to their product suite, maintaining their leadership in the technology landscape.

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Elastic N.V.

NYSE:ESTC

ESTC Rankings

#820 Ranked by Market Cap
N/A Ranked by Dividends

ESTC Stock Data

10.74B
87.29M
15.6%
91.79%
2.93%
Software - Application
Services-prepackaged Software
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