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 guidance of $0.46-0.48 for the period, compared to the consensus earnings per share 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

A number of research firms have commented on ESTC. Robert W. Baird upgraded Elastic from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $95.00 to $135.00 in a research note on Friday. Canaccord Genuity Group cut their price objective on shares of Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. Stifel Nicolaus decreased their target price on shares of Elastic from $120.00 to $98.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Piper Sandler reduced their price target on shares of Elastic from $131.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Finally, Baird R W downgraded shares of Elastic from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 30th. Seven equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $107.29.

Elastic Price Performance

ESTC stock opened at $94.57 on Friday. The company has a market capitalization of $9.72 billion, a P/E ratio of 171.95 and a beta of 0.94. The company has a fifty day moving average price of $80.71 and a 200-day moving average price of $97.05. 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.

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

Insider Buying and Selling

In related news, insider Carolyn Herzog sold 4,489 shares of Elastic stock in a transaction on Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $315,352.25. Following the completion of the transaction, the insider now owns 102,959 shares of the company’s stock, valued at $7,232,869.75. This trade represents a 4.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Mark Eugene Dodds sold 3,661 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $257,185.25. Following the completion of the transaction, the executive now owns 102,683 shares in the company, valued at approximately $7,213,480.75. The trade was a 3.44 % decrease in their position. 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.

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.