We Are Starting a New Position in This Enterprise AI Search Company
Accelerating AI adoption in the enterprise mixes well with this subscription business.
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| Symbol | Transaction Type | # Shares Traded | Recent Price $ | Shares Owned After Trade | % Portfolio |
|---|---|---|---|---|---|
ESTC | Buy | 1,160 | 82 | 1,160 | 2.0 |
After you receive this Alert, we will buy 1,160 shares of Elastic N.V. ESTC at or near $82. Following the trade, ESTC shares will account for 2.0% of the portfolio’s assets.
Following the valuation reset that occurred in late September, we are initiating a position in AI search company Elastic N.V. with a One rating and a $105 price target. We are setting our initial panic point at $68 and would be inclined to either pick up more shares near $75 or on signs Elastic's products are being adopted in the enterprise faster than expected.
We will have much more on our investment thesis and our decision to start this position in a follow up Alert.
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(Please note that we are looking to execute these trades at or near the share price mentioned above. Once the trade is completed, subscribers can see the trade's executed price here. Be sure to click on Closed Trade Gain/Loss and toggle the chart to sort by Purchase Date.)
At the time of publication, TheStreet Pro Portfolio had no positions in any securities mentioned.
