Elastic (NYSE:ESTC) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of ($0.32-0.30) for the period, compared to the Thomson Reuters consensus estimate of ($0.34). The company issued revenue guidance of $95-97 million, compared to the consensus revenue estimate of $93.94 million.Elastic also updated its FY 2020 guidance to $-1.4–1.24 EPS.
Shares of NYSE:ESTC traded up $0.54 during trading on Wednesday, hitting $80.13. The company’s stock had a trading volume of 1,657,772 shares, compared to its average volume of 880,045. Elastic has a fifty-two week low of $58.55 and a fifty-two week high of $104.10. The stock’s 50-day moving average price is $90.84 and its two-hundred day moving average price is $85.39. The company has a market capitalization of $6.04 billion and a PE ratio of -44.52.
Elastic (NYSE:ESTC) last released its quarterly earnings results on Wednesday, June 5th. The company reported ($0.28) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.45) by $0.17. The business had revenue of $80.60 million during the quarter, compared to analyst estimates of $75.79 million. The company’s revenue for the quarter was up 62.5% compared to the same quarter last year. Equities research analysts forecast that Elastic will post -2.17 EPS for the current year.
A number of brokerages have issued reports on ESTC. Zacks Investment Research raised Elastic from a sell rating to a hold rating in a research note on Monday, August 5th. Bank of America increased their price target on Elastic from $115.00 to $135.00 and gave the company a buy rating in a research note on Thursday, June 6th. Monness Crespi & Hardt reaffirmed a buy rating and set a $125.00 price target (up from $120.00) on shares of Elastic in a research note on Thursday, June 6th. Royal Bank of Canada upgraded Elastic from a sector perform rating to an outperform rating and increased their price objective for the company from $94.00 to $112.00 in a research report on Wednesday, August 14th. Finally, Stifel Nicolaus initiated coverage on Elastic in a research report on Monday, May 13th. They set a hold rating and a $75.00 price objective for the company. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $97.33.
In related news, SVP W.H. Baird Garrett sold 6,000 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $85.27, for a total transaction of $511,620.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michelangelo Volpi sold 658,540 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $81.42, for a total value of $53,618,326.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,958,440 shares of company stock valued at $166,065,906. Company insiders own 51.80% of the company’s stock.
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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