Elastic (ESTC) Posts Earnings Results, Beats Expectations By $0.09 EPS
Elastic (NYSE:ESTC) announced its quarterly earnings data on Tuesday. The company reported ($0.38) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.47) by $0.09, Briefing.com reports. The business had revenue of $63.60 million during the quarter, compared to analysts’ expectations of $56.54 million. The firm’s quarterly revenue was up 71.9% compared to the same quarter last year.
ESTC stock opened at $72.52 on Thursday. Elastic has a 12-month low of $58.55 and a 12-month high of $83.84.
A number of equities research analysts have recently commented on the company. Barclays lifted their price objective on Elastic to $85.00 and gave the company an “overweight” rating in a research report on Wednesday. Citigroup assumed coverage on Elastic in a research report on Tuesday, October 30th. They issued a “neutral” rating and a $74.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on Elastic in a research report on Tuesday, October 30th. They issued a “neutral” rating and a $60.00 price objective for the company. Royal Bank of Canada initiated coverage on Elastic in a research report on Tuesday, October 30th. They set an “outperform” rating and a $71.00 price target for the company. Finally, Jefferies Financial Group initiated coverage on Elastic in a research report on Tuesday, October 30th. They set a “hold” rating and a $65.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Elastic currently has an average rating of “Buy” and an average price target of $71.13.
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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