Why Elastic Stock Bounced 6% Higher on Friday
Both the company itself and several analysts are excited about its future.Elastic (ESTC 6.04%), which bills itself as "the Search AI company" to emphasize its devotion to artificial intelligence (AI) technology, had quite the springy session on the stock exchange Friday. Investors were reacting to several developments immediately before and during its annual investor day, plus a clutch of bullish analyst updates. With those tailwinds, Elastic's shares closed the day more than 6% higher. By contrast, the S&P ...