Elastic (NYSE:ESTC) Issues Q3 Earnings Guidance

Elastic (NYSE:ESTC) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of $0.46-0.48 for the period, compared to the consensus EPS 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 Analysts Forecast Growth

ESTC has been the topic of several research reports. Stifel Nicolaus cut their price target on Elastic from $120.00 to $98.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. William Blair raised shares of Elastic from a “market perform” rating to an “outperform” rating in a report on Monday, October 14th. Guggenheim initiated coverage on shares of Elastic in a research report on Wednesday, September 11th. They issued a “buy” rating and a $100.00 target price on the stock. TD Cowen cut their price objective on Elastic from $110.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 30th. Finally, Citigroup increased their target price on Elastic from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Elastic presently has an average rating of “Moderate Buy” and an average price target of $103.43.

Elastic Stock Performance

NYSE ESTC traded up $5.55 on Thursday, hitting $94.13. 4,741,332 shares of the company traded hands, compared to its average volume of 1,290,065. The business’s 50 day moving average price is $80.71 and its 200-day moving average price is $97.05. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $9.67 billion, a price-to-earnings ratio of 171.15 and a beta of 0.94. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, August 29th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.25 by $0.10. The firm had revenue of $347.42 million for the quarter, compared to the consensus estimate of $344.67 million. Elastic had a net margin of 4.62% and a negative return on equity of 17.54%. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.35) earnings per share. Equities analysts expect that Elastic will post -0.92 earnings per share for the current year.

Insider Activity at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 19,649 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $1,380,342.25. Following the completion of the sale, the chief executive officer now owns 432,648 shares in the company, valued at $30,393,522. This represents a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul R. Auvil III bought 20,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $74.25 per share, for a total transaction of $1,485,000.00. Following the transaction, the director now owns 22,627 shares in the company, valued at $1,680,054.75. The trade was a 761.32 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 37,406 shares of company stock valued at $2,627,772. 15.90% of the stock is owned by corporate insiders.

Elastic Company Profile

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.