Elastic (NYSE:ESTC) Updates Q2 2022 Earnings Guidance

Elastic (NYSE:ESTC) updated its second quarter 2022 earnings guidance on Wednesday. The company provided earnings per share guidance of $-0.190-$-0.150 for the period, compared to the Thomson Reuters consensus earnings per share 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 equities analysts recently weighed in on the stock. Monness Crespi & Hardt increased their price objective on shares of Elastic from $212.00 to $230.00 and gave the stock a buy rating in a research report on Thursday, August 26th. Zacks Investment Research upgraded shares of Elastic from a sell rating to a hold rating in a report on Tuesday. Piper Sandler increased their target price on shares of Elastic from $165.00 to $175.00 and gave the stock an overweight rating in a report on Friday, July 9th. Barclays increased their target price on shares of Elastic from $180.00 to $185.00 and gave the stock an overweight rating in a report on Thursday, August 26th. Finally, Oppenheimer increased their target price on shares of Elastic from $170.00 to $185.00 and gave the stock an outperform rating in a report on Thursday, August 26th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Elastic has an average rating of Buy and a consensus price target of $178.50.

Elastic stock traded up $1.67 during midday trading on Wednesday, hitting $161.78. 3,292 shares of the company’s stock were exchanged, compared to its average volume of 933,685. Elastic has a 12-month low of $97.48 and a 12-month high of $176.49. The company has a debt-to-equity ratio of 1.24, a quick ratio of 2.71 and a current ratio of 2.71. The stock has a market cap of $14.85 billion, a price-to-earnings ratio of -98.61 and a beta of 1.08. The firm’s 50 day simple moving average is $152.97 and its 200 day simple moving average is $134.14.

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

In related news, Director Jonathan Chadwick sold 6,250 shares of the firm’s stock in a transaction dated Monday, July 26th. The shares were sold at an average price of $148.18, for a total value of $926,125.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP W.H. Baird Garrett sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 30th. The shares were sold at an average price of $148.13, for a total transaction of $148,130.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 514,698 shares of company stock worth $84,959,034. Insiders own 20.40% of the company’s stock.

Elastic Company Profile

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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