Is Elastic Stock a Buy?
It's been rough going for stock investors so far this year, but the party came to an end over the summer of 2019 for Elastic (NYSE: ESTC) shareholders. After quickly running higher in the months following its late 2018 IPO, the stock is now down nearly 50% from all-time highs.
What may seem confounding is that the steep and steady decline for over half a year isn't for lack of growth. On the contrary, this small technologist has been expanding by a more-than-respectable rate since its public debut. It certainly isn't a value play at this point, but it's gotten cheap enough that Elastic at least deserves some attention.
Elastic is known as a digital search company, but this isn't akin to Alphabet's (NASDAQ: GOOGL)(NASDAQ: GOOG) Google web search. It rather falls more into the category of big data analytics, providing search tools for apps and websites, inter-organizational data search tools, data monitoring and visualization, and cybersecurity orchestration.
Source Fool.com
