Elastic (NYSE:ESTC) Issues Q2 2022 Earnings Guidance

Elastic (NYSE:ESTC) updated its second quarter 2022 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $-0.190-$-0.150 for the period, compared to the Thomson Reuters consensus estimate of $-0.130. The company issued revenue guidance of $193 million-$195 million, compared to the consensus revenue estimate of $188.71 million.Elastic also updated its FY 2022 guidance to $-0.670-$-0.570 EPS.

A number of research firms have recently issued reports on ESTC. lifted their price target on shares of Elastic from $161.00 to $175.00 and gave the company a buy rating in a research report on Thursday, June 3rd. Zacks Investment Research raised Elastic from a sell rating to a hold rating in a report on Tuesday, September 14th. Bank of America assumed coverage on Elastic in a report on Thursday, May 27th. They issued a buy rating and a $145.00 target price on the stock. Sumitomo Mitsui Financial Group initiated coverage on Elastic in a research note on Wednesday, June 16th. They set an outperform rating and a $150.00 price target for the company. Finally, Barclays boosted their price objective on shares of Elastic from $185.00 to $200.00 and gave the stock an overweight rating in a research report on Friday, September 17th. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $179.25.

Shares of Elastic stock traded up $1.85 during trading hours on Wednesday, reaching $165.03. 1,916 shares of the company’s stock were exchanged, compared to its average volume of 926,034. Elastic has a 52-week low of $97.48 and a 52-week high of $176.49. The company has a fifty day moving average of $154.33 and a 200-day moving average of $135.17. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $15.15 billion, a price-to-earnings ratio of -100.11 and a beta of 1.08.

Elastic (NYSE:ESTC) last released its earnings results on Tuesday, August 24th. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.14. The firm had revenue of $193.10 million during the quarter, compared to analyst estimates of $173.21 million. Elastic had a negative return on equity of 26.26% and a negative net margin of 21.54%. The business’s quarterly revenue was up 49.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 earnings per share. On average, equities research analysts anticipate that Elastic will post -1.78 earnings per share for the current fiscal year.

In other news, insider Paul Andrew Appleby sold 7,448 shares of Elastic stock in a transaction dated Thursday, September 9th. The stock was sold at an average price of $162.43, for a total value of $1,209,778.64. Following the transaction, the insider now directly owns 54,065 shares of the company’s stock, valued at approximately $8,781,777.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven Schuurman sold 500,000 shares of the stock in a transaction on Wednesday, September 8th. The stock was sold at an average price of $165.35, for a total transaction of $82,675,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 514,698 shares of company stock valued at $84,959,034. 20.40% of the stock is owned by insiders.

About Elastic

Elastic NV engages in the provision of open source search and analytics engine services. It offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as perform search, analysis, and visualization. The firms Elastic Stack product comprises Elasticsearch, a distributed, real-time search and analytics engine, and data store for various types of data, including textual, numerical, geospatial, structured, and unstructured; Kibana, a user interface, management, and configuration interface for the Elastic Stack; Beats, a single-purpose data shippers for sending data from edge machines to Elasticsearch or Logstash; and Logstash, a data processing pipeline for ingesting data into Elasticsearch or other storage systems.

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Earnings History and Estimates for Elastic (NYSE:ESTC)

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