Elastic (NYSE:ESTC) Releases Q3 2020 After-Hours Earnings Guidance

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Elastic (NYSE:ESTC) updated its third quarter 2020
After-Hours earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of -0.36–0.34 for the period, compared to the Thomson Reuters consensus estimate of $-0.33. The company issued revenue guidance of $106-108 million, compared to the consensus revenue estimate of $105.93 million.Elastic also updated its FY 2020
After-Hours guidance to -1.24–1.17 EPS.

Several equities analysts have weighed in on the company. Bank of America lifted their target price on Elastic from $135.00 to $137.00 and gave the company a buy rating in a research report on Thursday, August 29th. Piper Jaffray Companies began coverage on Elastic in a report on Monday, October 28th. They issued an overweight rating and a $93.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on Elastic from $80.00 to $85.00 and gave the stock a neutral rating in a research report on Thursday, August 29th. Barclays set a $105.00 target price on Elastic and gave the stock a buy rating in a research report on Friday, November 1st. Finally, Monness Crespi & Hardt upped their price objective on Elastic from $125.00 to $130.00 and gave the company a buy rating in a research report on Thursday, August 29th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $102.93.

NYSE ESTC traded up $0.42 during trading hours on Wednesday, hitting $78.20. 1,823,495 shares of the company’s stock were exchanged, compared to its average volume of 1,046,014. The business’s 50 day moving average is $75.56 and its 200-day moving average is $83.08. Elastic has a 12-month low of $60.78 and a 12-month high of $104.10. The firm has a market capitalization of $6.20 billion and a P/E ratio of -43.44. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.06 and a current ratio of 2.06.

In other Elastic news, Director Michelangelo Volpi sold 128,875 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $95.15, for a total transaction of $12,262,456.25. Also, CEO Shay Banon sold 10,000 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $79.81, for a total value of $798,100.00. Insiders have sold 503,189 shares of company stock worth $44,877,269 over the last quarter. 44.20% of the stock is currently owned by company insiders.

About Elastic

Elastic N.V. develops and delivers technology that enables users to search structured and unstructured data for a range of consumer and enterprise applications. It primarily provides 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.

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Earnings History and Estimates for Elastic (NYSE:ESTC)

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