Elastic (NYSE:ESTC) Releases Q3 Earnings Guidance

Elastic (NYSE:ESTC) issued an update on its third quarter earnings guidance on Thursday morning. 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.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ESTC shares. TD Cowen cut their price objective on Elastic from $110.00 to $80.00 and set a “hold” 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. Jefferies Financial Group dropped 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. Wedbush upgraded shares of Elastic to a “hold” rating in a report on Thursday, October 17th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $120.00 price target on shares of Elastic in a research note on Wednesday. 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 data from MarketBeat, Elastic currently has an average rating of “Moderate Buy” and an average target price of $103.43.

Elastic Stock Performance

NYSE:ESTC traded up $5.55 during mid-day trading on Thursday, reaching $94.13. 4,615,963 shares of the stock were exchanged, compared to its average volume of 1,291,787. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.75. Elastic has a 1 year low of $69.00 and a 1 year high of $136.06. The company has a 50 day simple moving average of $80.71 and a 200-day simple moving average of $97.05. The stock has a market capitalization of $9.67 billion, a P/E ratio of 171.15 and a beta of 0.94.

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

Insider Activity

In other Elastic news, CTO Shay Banon sold 2,666 shares of the 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 transaction, the chief technology officer now owns 4,543,190 shares in the company, valued at approximately $319,159,097.50. This represents a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paul R. Auvil III bought 20,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $74.25 per share, for a total transaction of $1,485,000.00. Following the completion of the transaction, the director now directly owns 22,627 shares in the company, valued at approximately $1,680,054.75. This represents a 761.32 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 37,406 shares of company stock valued at $2,627,772. Company insiders own 15.90% of the company’s stock.

Elastic Company Profile

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.