Elastic (NYSE:ESTC) Issues Q3 Earnings Guidance

Elastic (NYSE:ESTC) updated its third quarter earnings guidance on Thursday. 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 Price Performance

Shares of NYSE:ESTC traded up $5.55 on Thursday, hitting $94.13. The company had a trading volume of 4,615,963 shares, compared to its average volume of 1,291,787. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.75. The company has a market cap of $9.67 billion, a PE ratio of 171.15 and a beta of 0.94. 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.

Elastic (NYSE:ESTC) last released 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 company had revenue of $347.42 million for 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%. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.35) EPS. As a group, equities analysts anticipate that Elastic will post -0.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on ESTC shares. Scotiabank cut their price target on Elastic from $135.00 to $92.00 and set a “sector outperform” rating for the company in a report on Friday, August 30th. Stifel Nicolaus dropped their target price on Elastic from $120.00 to $98.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Wedbush raised Elastic to a “hold” rating in a research note on Thursday, October 17th. Baird R W downgraded shares of Elastic from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 30th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $120.00 target price on shares of Elastic in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.43.

Insider Buying and Selling at Elastic

In other Elastic news, Director Paul R. Auvil III bought 20,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $74.25 per share, with a total value 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 trade represents a 761.32 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Shay Banon sold 2,666 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $187,286.50. Following the sale, the chief technology officer now directly owns 4,543,190 shares of the company’s stock, valued at $319,159,097.50. The trade was a 0.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,406 shares of company stock valued at $2,627,772 over the last 90 days. 15.90% of the stock is owned by corporate 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.