There are a few good-looking IPOs now, and Elastic (ESTC) is our favorite partially because of its outstanding story,” suggests Mike Cintolo, growth stock expert and editor of Cabot Top Ten Trader.

The company’s Stack platform takes in all different types of data from a variety of areas and allows users to easily search for relevant information; it has unmatched speed, scale and produces the most relevant results.

The big idea to us is the pervasiveness of the platform. For example, in consumer-facing applications, Uber and Tinder use Elastic to match drivers, riders and data seekers.

In data infrastructure, Barclays uses it to view server logs and infrastructure activity to see what’s working or not. For cybersecurity, Indiana University uses Stack to protect its thousands of assets).

For simple monitoring, Brazil uses it for real-time healthy spending and service quality data search), Elastic’s offerings can do it all, and customers are responding.

In Q3 (its only public earnings report so far), sales, billings and deferred revenue all grow north of 70% from a year ago, and each of the past eight quarters has seen current customers average a 30% hike in their usage of Elastic from the prior year.

Of course, the valuation is huge ($6.2 billion!), but this looks like a unique growth story. Interestingly, 142 mutual funds picked up shares in the first three months it came public.

ESTC came public in early October — probably the worst time to do so. But instead of falling off a cliff repeatedly found support in the $60 to $63 range through year-end.

And with the market heading higher this year, the stock has performed excellently, spiking to $78, resting for two weeks and then zooming to new highs. We think pullbacks are likely, so aim to get in on weakness.

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