Elastic (NYSE:ESTC) Issues FY25 Earnings Guidance

Elastic (NYSE:ESTC) issued an update on its FY25 earnings guidance on Thursday morning. The company provided EPS guidance of $1.68-1.72 for the period, compared to the consensus EPS 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.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ESTC shares. Robert W. Baird downgraded Elastic from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $135.00 to $95.00 in a report on Friday, August 30th. Bank of America lowered shares of Elastic from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $140.00 to $94.00 in a report on Friday, August 30th. UBS Group reduced their price objective on Elastic from $135.00 to $95.00 and set a “buy” rating for the company in a report on Friday, August 30th. Citigroup upped their price objective on Elastic from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Finally, Jefferies Financial Group reduced their price objective on Elastic from $140.00 to $110.00 and set a “buy” rating on the stock in a report 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $103.43.

Elastic Price Performance

Shares of NYSE:ESTC traded up $5.55 on Thursday, hitting $94.13. The company had a trading volume of 4,741,332 shares, compared to its average volume of 1,290,065. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06. The business has a 50 day moving average of $80.71 and a 200 day moving average of $97.05. The company has a market cap of $9.67 billion, a PE ratio of 171.15 and a beta of 0.94. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.75.

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

Insider Buying and Selling at Elastic

In related news, CFO Janesh Moorjani sold 6,941 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $487,605.25. Following the completion of the transaction, the chief financial officer now directly owns 195,550 shares of the company’s stock, valued at $13,737,387.50. This trade represents a 3.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Carolyn Herzog sold 4,489 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 $315,352.25. Following the completion of the sale, the insider now owns 102,959 shares of the company’s stock, valued at approximately $7,232,869.75. The trade was a 4.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,406 shares of company stock worth $2,627,772 over the last ninety days. 15.90% of the stock is currently owned by 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.