Elastic (NYSE:ESTC – Get Rating) updated its first quarter 2023 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of -$0.20–$0.16 for the period, compared to the consensus estimate of -$0.20. The company issued revenue guidance of $244.00 million-$246.00 million, compared to the consensus revenue estimate of $247.35 million.Elastic also updated its FY 2023 guidance to -$0.36–$0.28 EPS.
Shares of Elastic stock traded up $0.29 during trading on Wednesday, reaching $61.94. 1,773,645 shares of the company’s stock were exchanged, compared to its average volume of 1,498,537. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.22 and a current ratio of 2.22. Elastic has a 1-year low of $50.74 and a 1-year high of $189.84. The company has a market cap of $5.79 billion, a P/E ratio of -31.28 and a beta of 1.28. The firm’s 50-day moving average price is $76.01 and its 200 day moving average price is $96.06.
Elastic (NYSE:ESTC – Get Rating) last issued its earnings results on Wednesday, June 1st. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.40. Elastic had a negative return on equity of 34.20% and a negative net margin of 22.67%. The business had revenue of $239.36 million during the quarter, compared to analysts’ expectations of $232.38 million. During the same quarter in the prior year, the firm earned ($0.44) EPS. The business’s revenue for the quarter was up 34.8% compared to the same quarter last year. As a group, equities research analysts predict that Elastic will post -1.79 EPS for the current year.
In other news, Director Jonathan Chadwick sold 6,250 shares of the firm’s stock in a transaction on Monday, April 25th. The stock was sold at an average price of $82.29, for a total value of $514,312.50. Following the completion of the transaction, the director now directly owns 5,102 shares of the company’s stock, valued at $419,843.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ashutosh Kulkarni sold 5,822 shares of the firm’s stock in a transaction on Friday, March 11th. The stock was sold at an average price of $75.30, for a total value of $438,396.60. The disclosure for this sale can be found here. Insiders sold 12,415 shares of company stock valued at $978,537 over the last three months. Company insiders own 18.90% of the company’s stock.
A number of large investors have recently bought and sold shares of ESTC. EverSource Wealth Advisors LLC bought a new stake in Elastic during the fourth quarter worth about $31,000. Advisors Asset Management Inc. lifted its stake in Elastic by 229.2% during the fourth quarter. Advisors Asset Management Inc. now owns 1,004 shares of the company’s stock worth $124,000 after purchasing an additional 699 shares during the last quarter. Cetera Investment Advisers bought a new stake in Elastic during the first quarter worth about $217,000. Cresset Asset Management LLC bought a new stake in Elastic during the first quarter worth about $229,000. Finally, Virtu Financial LLC bought a new stake in Elastic during the first quarter worth about $295,000. 77.44% of the stock is owned by institutional investors.
Elastic Company Profile (Get Rating)
Elastic N.V., a search company, delivers technology that enables users to search through structured and unstructured data for a range of consumer and enterprise applications. It primarily 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.
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