Elastic (ESTC) Updates Q3 Earnings Guidance
Elastic (NYSE:ESTC) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share guidance of ($0.32-0.30) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.31). The company issued revenue guidance of $64-66 million, compared to the consensus revenue estimate of $58.43 million.Elastic also updated its FY 2019 guidance to $-1.35–1.3 EPS.
Several equities analysts recently issued reports on the company. Barclays raised their price target on Elastic to $85.00 and gave the stock an overweight rating in a research report on Wednesday. Royal Bank of Canada assumed coverage on Elastic in a research report on Tuesday, October 30th. They set an outperform rating and a $71.00 price target on the stock. Citigroup assumed coverage on Elastic in a research report on Tuesday, October 30th. They set a neutral rating and a $74.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on Elastic in a research report on Tuesday, October 30th. They set a neutral rating and a $60.00 price target on the stock. Finally, Canaccord Genuity assumed coverage on Elastic in a research report on Tuesday, October 30th. They set a hold rating and a $65.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of $71.13.
ESTC opened at $72.52 on Thursday. Elastic has a 1 year low of $58.55 and a 1 year high of $83.84.
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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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