Elastic (NYSE:ESTC) Updates 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.

Elastic Stock Up 14.8 %

Shares of ESTC opened at $108.03 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.91 and a current ratio of 1.91. Elastic has a 52 week low of $69.00 and a 52 week high of $136.06. The firm has a market capitalization of $11.10 billion, a price-to-earnings ratio of 196.42 and a beta of 0.94. The business’s fifty day moving average price is $81.78 and its two-hundred day moving average price is $97.04.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.10. Elastic had a net margin of 4.39% and a negative return on equity of 13.54%. The business had revenue of $347.42 million during the quarter, compared to analysts’ expectations of $344.67 million. During the same quarter in the prior year, the company earned ($0.35) EPS. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. On average, analysts predict that Elastic will post -0.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ESTC has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Elastic in a research note on Friday. Bank of America raised their price target on shares of Elastic from $94.00 to $120.00 and gave the company a “neutral” rating in a research note on Friday. Truist Financial upped their price objective on shares of Elastic from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday. Canaccord Genuity Group increased their price objective on shares of Elastic from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday. Finally, Jefferies Financial Group boosted their target price on shares of Elastic from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday. Six investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.00.

Insider Activity at Elastic

In other news, CFO Janesh Moorjani sold 6,941 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $487,605.25. Following the transaction, the chief financial officer now owns 195,550 shares in the company, valued at approximately $13,737,387.50. This represents a 3.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul R. Auvil III acquired 20,000 shares of the business’s stock in a transaction dated 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 directly owns 22,627 shares in the company, valued at approximately $1,680,054.75. This represents a 761.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 37,406 shares of company stock worth $2,627,772 in the last 90 days. Corporate 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.