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.

Elastic Stock Up 6.8 %

ESTC stock opened at $94.57 on Friday. The stock’s 50 day simple moving average is $80.71 and its 200 day simple moving average is $97.05. The company has a market cap of $9.72 billion, a P/E ratio of 171.95 and a beta of 0.94. 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 fifty-two week low of $69.00 and a fifty-two week high of $136.06.

Elastic (NYSE:ESTC) last issued 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 17.54% and a net margin of 4.62%. The company had revenue of $347.42 million for the quarter, compared to analyst estimates of $344.67 million. During the same period in the prior year, the firm earned ($0.35) earnings per share. Elastic’s revenue for the quarter was up 18.3% on a year-over-year basis. On average, research analysts expect that Elastic will post -0.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ESTC. Jefferies Financial Group reduced their price objective on shares of Elastic from $140.00 to $110.00 and set a “buy” rating for the company in a report on Friday, August 30th. Guggenheim initiated coverage on Elastic in a research note on Wednesday, September 11th. They set a “buy” rating and a $100.00 price target for the company. UBS Group lowered their price objective on Elastic from $135.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Oppenheimer raised their target price on Elastic from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Friday. Finally, Barclays upped their price target on Elastic from $95.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Seven research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.29.

Insider Buying and Selling

In related news, CTO Shay Banon sold 2,666 shares of Elastic stock in a transaction dated 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 owns 4,543,190 shares of the company’s stock, valued at approximately $319,159,097.50. This trade represents a 0.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Carolyn Herzog sold 4,489 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 $315,352.25. Following the sale, the insider now directly owns 102,959 shares in the company, valued at approximately $7,232,869.75. This trade represents a 4.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,406 shares of company stock valued at $2,627,772. 15.90% of the stock is owned by company insiders.

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.