Billionaire Chris Rokos’ 10 Stock Picks with Huge Upside Potential

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

Rokos Capital Management Stake Value: $4,953,000

Upside Potential as of May 7: 58.72%

Number of Hedge Fund Holders: 64

Elastic N.V. (NYSE:ESTC) is a search and data analytics company that markets itself as “The Search AI Company.” The company offers a suite of solutions, including Elasticsearch (a search engine for applications), Kibana (a visualization tool), and Elastic Security, among others.

The past month has been busy for Elastic N.V. (NYSE:ESTC). On April 29, the company announced Automatic Migration. This is a new feature that simplifies the transition from incumbent SIEM (Security Information and Event Management) solutions to Elastic Security. It automatically maps existing detection rules to equivalent Elastic-built rules without requiring manual rebuilding. This innovation reduces the cost, complexity, and risk associated with migrating from legacy security systems.

Just days earlier, Elastic N.V. (NYSE:ESTC) had unveiled the general availability of Elastic Cloud Serverless on Google Cloud Marketplace. This allows developers to quickly scale the company’s solutions without managing infrastructure. This builds on their industry-first Search AI Lake architecture.

These product innovations position Elastic N.V. (NYSE:ESTC) to capitalize on the growing demand for advanced security and search capabilities. The company’s focus on performance optimization is evident in its announcement that Elasticsearch runs up to 40% faster on Google Axion processors. This performance gain enables users to index data more efficiently and improve search performance.

On April 16, 2025, Morgan Stanley analyst Sanjit Singh lowered the firm’s price target on Elastic N.V. (NYSE:ESTC) to $120 from $140 while maintaining an Overweight rating. The analyst said in a note that the adjustment is part of a broader risk/reward reassessment across software companies in light of tariff risk uncertainty.