Elastic (NYSE:ESTC) Issues FY 2020 After-Hours Earnings Guidance

Elastic (NYSE:ESTC) issued an update on its FY 2020
After-Hours earnings guidance on Wednesday morning. The company provided EPS guidance of -1.24–1.17 for the period, compared to the Thomson Reuters consensus EPS estimate of $-1.29. The company issued revenue guidance of $415-417 million, compared to the consensus revenue estimate of $410.43 million.Elastic also updated its Q3 2020
After-Hours guidance to -0.36–0.34 EPS.

NYSE ESTC traded up $0.42 during trading on Wednesday, hitting $78.20. 1,823,495 shares of the company’s stock traded hands, compared to its average volume of 1,046,014. The stock has a market capitalization of $6.20 billion and a price-to-earnings ratio of -43.44. Elastic has a 12-month low of $60.78 and a 12-month high of $104.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.06 and a current ratio of 2.06. The business has a 50 day moving average of $75.56 and a 200-day moving average of $83.08.

ESTC has been the topic of several recent research reports. ValuEngine downgraded shares of Elastic from a buy rating to a hold rating in a report on Thursday, November 28th. JPMorgan Chase & Co. upped their price objective on shares of Elastic from $80.00 to $85.00 and gave the company a neutral rating in a report on Thursday, August 29th. Barclays set a $105.00 price objective on shares of Elastic and gave the company a buy rating in a report on Friday, November 1st. Zacks Investment Research downgraded shares of Elastic from a buy rating to a hold rating in a report on Tuesday, October 29th. Finally, Royal Bank of Canada increased their price target on shares of Elastic from $112.00 to $117.00 and gave the stock an outperform rating in a report on Thursday, August 29th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $102.93.

In related news, CRO Aaron Katz sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $83.79, for a total value of $2,094,750.00. Also, SVP W.H. Baird Garrett sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $94.00, for a total transaction of $282,000.00. Over the last three months, insiders sold 503,189 shares of company stock worth $44,877,269. Insiders own 44.20% of the company’s stock.

About Elastic

Elastic N.V. develops and delivers technology that enables users to search structured and unstructured data for a range of consumer and enterprise applications. It primarily provides 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.

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Earnings History and Estimates for Elastic (NYSE:ESTC)

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