Elastic (NYSE:ESTC) Issues Q3 Earnings Guidance

Elastic (NYSE:ESTC) issued an update on its third quarter earnings guidance on Thursday morning. 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 FY 2025 guidance to 1.680-1.720 EPS.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Stifel Nicolaus lifted their target price on Elastic from $98.00 to $132.00 and gave the company a “buy” rating in a research note on Friday. Canaccord Genuity Group boosted their target price on Elastic from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Friday. Jefferies Financial Group upped their target price on Elastic from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday. Wedbush upgraded Elastic to a “hold” rating in a research report on Thursday, October 17th. Finally, Oppenheimer upped their price objective on Elastic from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Friday. Six investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Elastic presently has an average rating of “Moderate Buy” and a consensus target price of $122.00.

Elastic Price Performance

Shares of ESTC opened at $107.94 on Friday. The business’s 50-day moving average is $81.13 and its 200-day moving average is $97.04. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.91 and a quick ratio of 1.91. The company has a market capitalization of $11.09 billion, a price-to-earnings ratio of 196.25 and a beta of 0.94. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06.

Elastic (NYSE:ESTC) last released its earnings results 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. The company had revenue of $347.42 million during the quarter, compared to the consensus estimate of $344.67 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.54%. The company’s revenue was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.35) EPS. Equities research analysts expect that Elastic will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Carolyn Herzog sold 4,489 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $315,352.25. Following the completion of the sale, the insider now directly owns 102,959 shares of the company’s stock, valued at approximately $7,232,869.75. This represents a 4.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul R. Auvil III acquired 20,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of $74.25 per share, for a total transaction of $1,485,000.00. Following the completion of the transaction, 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 position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 37,406 shares of company stock worth $2,627,772. Insiders own 15.90% of the company’s stock.

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.