Elastic (NYSE:ESTC – Get Rating) will release its earnings data after the market closes on Wednesday, November 30th. Analysts expect Elastic to post earnings of ($0.10) per share for the quarter. Elastic has set its Q2 guidance at $(0.11)-(0.09) EPS and its FY23 guidance at $(0.31)-(0.25) EPS.Investors interested in participating in the company’s conference call can do so using this link.
Elastic (NYSE:ESTC – Get Rating) last announced its quarterly earnings data on Thursday, August 25th. The company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.10). Elastic had a negative net margin of 25.99% and a negative return on equity of 48.44%. The business had revenue of $250.08 million during the quarter, compared to analysts’ expectations of $245.78 million. On average, analysts expect Elastic to post $-2 EPS for the current fiscal year and $-2 EPS for the next fiscal year.
Elastic Stock Performance
NYSE ESTC opened at $57.26 on Wednesday. The business’s 50-day moving average price is $66.60 and its 200 day moving average price is $71.42. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 1.44. Elastic has a twelve month low of $50.33 and a twelve month high of $162.46. The company has a market capitalization of $5.44 billion, a PE ratio of -22.37 and a beta of 1.05.
Insiders Place Their Bets
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. lifted its stake in Elastic by 51.1% in the first quarter. Advisors Asset Management Inc. now owns 1,517 shares of the company’s stock valued at $135,000 after buying an additional 513 shares during the last quarter. Creative Planning lifted its position in Elastic by 10.2% in the 2nd quarter. Creative Planning now owns 3,007 shares of the company’s stock valued at $203,000 after purchasing an additional 279 shares during the last quarter. Cetera Investment Advisers acquired a new position in Elastic during the 1st quarter valued at about $217,000. Cresset Asset Management LLC bought a new position in Elastic in the 1st quarter worth about $229,000. Finally, M&T Bank Corp bought a new position in Elastic in the 3rd quarter worth about $291,000. 74.31% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on ESTC. Citigroup raised their target price on shares of Elastic from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, August 22nd. Robert W. Baird reissued an “outperform” rating and set a $100.00 price objective on shares of Elastic in a research note on Wednesday, October 19th. Truist Financial dropped their price objective on Elastic from $105.00 to $95.00 in a report on Wednesday, October 26th. Barclays lowered their price target on Elastic from $85.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, November 18th. Finally, Piper Sandler boosted their price objective on shares of Elastic from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, August 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $114.86.
Elastic N.V., a search company, delivers technology solutions designed to run in public or private clouds in multi-cloud environments. 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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