12 AI Stocks on Analysts’ Radar

8. Elastic N.V. (NYSE:ESTC)

Number of Hedge Fund Holders: 64

Elastic N.V. (NYSE:ESTC) is a search AI company offering cloud-based solutions. TD Cowen recently lowered the firm’s price target on the stock to $105 from $125 and kept a “Hold” rating on the shares. The firm holds a cautious outlook toward the stock ahead of its financial report scheduled for May 29. All eyes are going to be on the company’s guidance for FY26 on the said day.

While a 23% Cloud growth expectation is in line with estimates, FY26 guidance is anticipated to be slightly below the consensus estimate of 14%. This is because the forecast accounts for the recent CFO appointment and the current macroeconomic environment. As such, the upcoming earnings and guidance may prove to be a crucial test for investor confidence.

In other news, Elastic announced how Elasticsearch, its open-source, distributed search and analytics engine, has integrated with the new NVIDIA Enterprise AI Factory validated design.  This collaboration strives to build and deploy on-premises AI factories.

“We are obsessed with building the best vector database in the market. NVIDIA Enterprise AI Factory validated designs enable Elastic customers to unlock faster, more relevant insights from their data.”

-Ken Exner, chief product officer at Elastic.