- Elastic's performance through the pandemic has been reasonably robust, particularly given the software's use cases and the fact that the customer base skews towards smaller users.
- Elastic continues to add functionality through a mixture of internal development and acquisitions, expanding its addressable market.
- Elastic continues to trade on a low multiple relative to peers, but this is reflective of the company’s potentially questionable competitive position.
- Elastic needs to demonstrate that its applications built on the ELK Stack can compete on merit, rather than just price.
For further details see:
Elastic: Undervalued But Competitive Position Is Concerning