Elastic (NYSE:ESTC – Get 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
Elastic (NYSE:ESTC – Get 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
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
- Five stocks we like better than Elastic
- Business Services Stocks Investing
- Why Palo Alto Networks’ Multi-Year Uptrend Is Far From Over
- Special Purpose Acquisition Company (SPAC) What You Need to Know
- 3 Rock-Solid Buying Opportunities in the Market Right Now
- Consumer Staples Stocks, Explained
- TJX Companies Stock Poised to Hit a New High This Year
Receive News & Ratings for Elastic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elastic and related companies with MarketBeat.com's FREE daily email newsletter.