Elastic (NYSE:ESTC) Issues Q3 Earnings Guidance

Elastic (NYSE:ESTC) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share guidance of ($0.36-0.34) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.33). The company issued revenue guidance of $106-108 million, compared to the consensus revenue estimate of $105.84 million.Elastic also updated its FY 2020
After-Hours guidance to -1.24–1.17 EPS.

A number of equities analysts have recently weighed in on the stock. Canaccord Genuity raised shares of Elastic from a hold rating to a buy rating and set a $90.00 price target on the stock in a research note on Monday, November 18th. JPMorgan Chase & Co. increased their price objective on shares of Elastic from $80.00 to $85.00 and gave the company a neutral rating in a research note on Thursday, August 29th. Jefferies Financial Group decreased their price objective on shares of Elastic from $90.00 to $85.00 and set a hold rating for the company in a report on Thursday. They noted that the move was a valuation call. ValuEngine downgraded shares of Elastic from a buy rating to a hold rating in a research report on Thursday, November 28th. Finally, Citigroup upped their target price on shares of Elastic from $98.00 to $100.00 and gave the company a neutral rating in a research note on Thursday, August 29th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has an average rating of Buy and an average target price of $99.86.

Elastic stock traded down $0.65 during trading hours on Friday, reaching $63.57. 49,346 shares of the stock were exchanged, compared to its average volume of 1,088,118. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.11. Elastic has a twelve month low of $60.78 and a twelve month high of $104.10. The company has a market cap of $6.20 billion and a P/E ratio of -35.32. The stock has a 50 day moving average of $74.99 and a two-hundred day moving average of $82.96.

Elastic (NYSE:ESTC) last issued its earnings results on Wednesday, December 4th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.28. Elastic had a negative net margin of 41.18% and a negative return on equity of 44.92%. The company had revenue of $101.10 million during the quarter, compared to analysts’ expectations of $96.51 million. During the same period in the previous year, the company earned ($0.38) EPS. The business’s revenue for the quarter was up 59.0% compared to the same quarter last year. On average, analysts expect that Elastic will post -2.06 earnings per share for the current fiscal year.

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

Elastic Company Profile

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.

Further Reading: Derivative

Earnings History and Estimates for Elastic (NYSE:ESTC)

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