Elastic (ESTC) Expected to Announce Quarterly Earnings on Thursday

Elastic (NYSE:ESTC) is projected to announce its earnings results after the market closes on Thursday, February 27th. Analysts expect the company to announce earnings of $0.47 per share and revenue of $368.85 million for the quarter. Investors that are interested in registering for the company’s earnings conference call can do so using this link.

Elastic Price Performance

NYSE:ESTC opened at $104.92 on Tuesday. Elastic has a 52 week low of $69.00 and a 52 week high of $136.06. The stock’s fifty day moving average is $106.00 and its two-hundred day moving average is $95.42. The company has a market capitalization of $10.87 billion, a P/E ratio of 190.77 and a beta of 1.07. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70.

Insiders Place Their Bets

In other Elastic news, CEO Ashutosh Kulkarni sold 7,017 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total value of $758,678.04. Following the sale, the chief executive officer now directly owns 395,326 shares in the company, valued at $42,742,647.12. This trade represents a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on ESTC. Cantor Fitzgerald started coverage on shares of Elastic in a report on Friday, January 17th. They issued a “neutral” rating and a $108.00 price objective on the stock. Royal Bank of Canada boosted their price target on shares of Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Needham & Company LLC restated a “hold” rating on shares of Elastic in a report on Friday, November 22nd. Guggenheim lifted their target price on shares of Elastic from $100.00 to $120.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, Citigroup boosted their target price on Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Elastic currently has a consensus rating of “Moderate Buy” and an average price target of $125.35.

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.