Elastic (NYSE:ESTC) Updates Q3 Earnings Guidance

Elastic (NYSE:ESTCGet Free Report) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.46-0.48 for the period, compared to the consensus estimate of $0.41. The company issued revenue guidance of $367-369 million, compared to the consensus revenue estimate of $366.04 million. Elastic also updated its FY25 guidance to $1.68-1.72 EPS.

Wall Street Analyst Weigh In

ESTC has been the subject of a number of analyst reports. Baird R W lowered Elastic from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 30th. Truist Financial decreased their price target on shares of Elastic from $140.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Royal Bank of Canada cut their target price on Elastic from $135.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, August 30th. Wedbush upgraded Elastic to a “hold” rating in a research report on Thursday, October 17th. Finally, TD Cowen lowered their target price on shares of Elastic from $110.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, August 30th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $103.43.

Check Out Our Latest Stock Report on ESTC

Elastic Stock Performance

Shares of Elastic stock traded up $5.55 during trading on Thursday, hitting $94.13. 4,741,332 shares of the stock were exchanged, compared to its average volume of 1,290,065. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.91 and a current ratio of 1.91. The stock has a market cap of $9.67 billion, a PE ratio of 171.15 and a beta of 0.94. The stock’s fifty day moving average is $80.71 and its 200 day moving average is $97.05.

Elastic (NYSE:ESTCGet Free Report) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.10. Elastic had a negative return on equity of 17.54% and a net margin of 4.62%. The business had revenue of $347.42 million during the quarter, compared to analyst estimates of $344.67 million. During the same period in the prior year, the company posted ($0.35) EPS. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Elastic will post -0.92 EPS for the current year.

Insiders Place Their Bets

In related news, Director Paul R. Auvil III acquired 20,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $74.25 per share, with a total value of $1,485,000.00. Following the completion of the acquisition, the director now owns 22,627 shares of the company’s stock, valued at $1,680,054.75. This trade represents a 761.32 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Shay Banon sold 2,666 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $70.25, for a total value of $187,286.50. Following the completion of the sale, the chief technology officer now directly owns 4,543,190 shares in the company, valued at approximately $319,159,097.50. This represents a 0.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,406 shares of company stock worth $2,627,772 in the last ninety days. Insiders own 15.90% of the company’s stock.

About Elastic

(Get Free Report)

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.

Further Reading

Earnings History and Estimates for Elastic (NYSE:ESTC)

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