Elastic (NYSE:ESTC) Updates Q3 Earnings Guidance

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Elastic (NYSE:ESTC) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share guidance of ($0.36-0.34) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.33). The company issued revenue guidance of $106-108 million, compared to the consensus revenue estimate of $105.84 million.Elastic also updated its FY 2020
After-Hours guidance to -1.24–1.17 EPS.

A number of brokerages have commented on ESTC. Barclays set a $105.00 target price on Elastic and gave the company a buy rating in a report on Friday, November 1st. Stifel Nicolaus increased their target price on Elastic from $85.00 to $100.00 and gave the company a hold rating in a report on Thursday, August 29th. Bank of America increased their target price on Elastic from $135.00 to $137.00 and gave the company a buy rating in a report on Thursday, August 29th. Piper Jaffray Companies began coverage on Elastic in a report on Monday, October 28th. They set an overweight rating and a $93.00 target price on the stock. Finally, ValuEngine cut Elastic from a buy rating to a hold rating in a report on Thursday, November 28th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Elastic currently has an average rating of Buy and an average price target of $102.93.

Shares of ESTC stock traded up $0.42 during mid-day trading 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. Elastic has a fifty-two week low of $60.78 and a fifty-two week high of $104.10. The stock has a 50-day simple moving average of $75.42 and a two-hundred day simple moving average of $83.05. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.11. The stock has a market cap of $6.20 billion and a price-to-earnings ratio of -43.44.

In other news, CFO Janesh Moorjani sold 140,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $92.74, for a total transaction of $12,983,600.00. Also, CRO Aaron Katz sold 25,000 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $83.79, for a total value of $2,094,750.00. Insiders have sold 503,189 shares of company stock worth $44,877,269 in the last 90 days. Insiders own 44.20% of the company’s stock.

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.

Featured Story: Dividend Reinvestment Plan (DRIP)

Earnings History and Estimates for Elastic (NYSE:ESTC)

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