Elastic (ESTC) Set to Announce Earnings on Thursday

Elastic (NYSE:ESTC) is set to post its quarterly earnings results after the market closes on Thursday, November 21st. Analysts expect Elastic to post earnings of $0.38 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.10. Elastic had a negative return on equity of 17.54% and a net margin of 4.62%. The company had revenue of $347.42 million for the quarter, compared to analyst estimates of $344.67 million. During the same quarter in the previous year, the firm earned ($0.35) earnings per share. The business’s revenue was up 18.3% on a year-over-year basis. On average, analysts expect Elastic to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Elastic Stock Performance

Shares of NYSE:ESTC opened at $88.25 on Wednesday. The business has a fifty day moving average of $80.43 and a 200-day moving average of $97.11. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.91 and a current ratio of 1.91. Elastic has a twelve month low of $69.00 and a twelve month high of $136.06. The firm has a market cap of $9.07 billion, a PE ratio of 160.45 and a beta of 0.94.

Analysts Set New Price Targets

ESTC has been the topic of several recent research reports. Piper Sandler decreased their price target on Elastic from $131.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Robert W. Baird lowered shares of Elastic from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $135.00 to $95.00 in a research note on Friday, August 30th. William Blair raised shares of Elastic from a “market perform” rating to an “outperform” rating in a research note on Monday, October 14th. Scotiabank cut their price objective on shares of Elastic from $135.00 to $92.00 and set a “sector outperform” rating on the stock in a report on Friday, August 30th. Finally, Oppenheimer lowered their target price on shares of Elastic from $150.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $104.19.

Insider Activity at Elastic

In other news, CTO Shay Banon sold 2,666 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $187,286.50. Following the transaction, the chief technology officer now owns 4,543,190 shares in the company, valued at approximately $319,159,097.50. This trade represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul R. Auvil III purchased 20,000 shares of Elastic stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $74.25 per share, with a total value of $1,485,000.00. Following the completion of the purchase, the director now directly owns 22,627 shares in the company, valued at $1,680,054.75. This trade represents a 761.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders sold 37,406 shares of company stock valued at $2,627,772. 15.90% of the stock is owned by corporate insiders.

Elastic Company Profile

Elastic N.V., a data analytics company, delivers 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 performs search, analysis, and visualization on that data.