Elastic (NYSE:ESTC) Issues FY25 Earnings Guidance

Elastic (NYSE:ESTC) issued an update on its FY25 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.68-1.72 for the period, compared to the consensus estimate of $1.53. The company issued revenue guidance of $1.451-1.457 billion, compared to the consensus revenue estimate of $1.44 billion. Elastic also updated its Q3 guidance to $0.46-0.48 EPS.

Elastic Stock Up 6.3 %

Shares of NYSE:ESTC traded up $5.55 during trading on Thursday, hitting $94.13. The stock had a trading volume of 4,741,332 shares, compared to its average volume of 1,290,065. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $9.67 billion, a PE ratio of 171.15 and a beta of 0.94. The firm’s fifty day moving average is $80.71 and its 200 day moving average is $97.05. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.10. Elastic had a net margin of 4.62% and a negative return on equity of 17.54%. The firm had revenue of $347.42 million for the quarter, compared to analysts’ expectations of $344.67 million. During the same period in the prior year, the company earned ($0.35) EPS. The business’s revenue was up 18.3% compared to the same quarter last year. Analysts anticipate that Elastic will post -0.92 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ESTC shares. Truist Financial cut their price objective on shares of Elastic from $140.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Baird R W downgraded shares of Elastic from a “strong-buy” rating to a “hold” rating in a report on Friday, August 30th. Canaccord Genuity Group cut their target price on shares of Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. Royal Bank of Canada dropped their price target on shares of Elastic from $135.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, August 30th. Finally, UBS Group lowered their target price on shares of Elastic from $135.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.43.

Insider Buying and Selling at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 19,649 shares of Elastic 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 $1,380,342.25. Following the transaction, the chief executive officer now directly owns 432,648 shares of the company’s stock, valued at $30,393,522. The trade was a 4.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Shay Banon sold 2,666 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $187,286.50. Following the completion of the sale, the chief technology officer now directly owns 4,543,190 shares in the company, valued at $319,159,097.50. This trade represents a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,406 shares of company stock valued at $2,627,772. Corporate insiders own 15.90% of the company’s stock.

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.