Elastic (NYSE:ESTC) Releases 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 FY 2025 guidance to 1.680-1.720 EPS.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ESTC. Truist Financial raised their target price on Elastic from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Friday. The Goldman Sachs Group raised their price target on Elastic from $99.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday. Canaccord Genuity Group raised their price target on shares of Elastic from $110.00 to $130.00 and gave the company a “buy” rating in a report on Friday. Jefferies Financial Group increased their price target on shares of Elastic from $110.00 to $135.00 and gave the stock a “buy” rating in a report on Friday. Finally, Citigroup raised their price objective on Elastic from $155.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Six analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $122.00.

Elastic Trading Up 14.7 %

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

Elastic (NYSE:ESTC) last released its earnings results on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.10. Elastic had a negative return on equity of 13.54% and a net margin of 4.39%. The business had revenue of $347.42 million for the quarter, compared to analyst estimates of $344.67 million. During the same quarter last year, the firm posted ($0.35) earnings per share. The business’s revenue was up 18.3% compared to the same quarter last year. On average, sell-side analysts expect that Elastic will post -0.92 earnings per share for the current year.

Insider Activity at Elastic

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