Billionaire Chase Coleman’s 10 Stocks with Huge Upside Potential

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

Tiger Global Management LLC’s Stake Value: $167.51 Million

Upside Potential as of April: 55.22%

Number of Hedge Fund Holders: 64

Elastic N.V. (NYSE:ESTC) is a search artificial intelligence (AI) company that delivers hosted and managed solutions designed to run in hybrid, public, or private clouds. It offers Elastic Stack, a set of software products that ingest and store data from various sources and formats. While the stock is down by about 13% as the AI-driven rally fizzles, analysts at Stifel maintain a positive stance with a Buy rating and a $140 price target.

According to analysts, Elastic N.V. (NYSE:ESTC) is staring at tremendous opportunities for growth in its focus on the cloud amid the growth in the generative AI market. The growth has been the catalyst behind the company’s 17.95% revenue growth over the past 12 months, backed by a healthy 74.27% gross profit margin.

The analytics software company delivered better than expected third quarter fiscal 2025 results driven by strong demand for products related to artificial intelligence. Earnings per share came in at 63 cents, above analyst estimates, as revenue increased 17% year over year to $382.1 million. The results were better than expected as customers building generative AI applications increasingly leveraged its solutions.