Elastic (NYSE:ESTC) Releases Quarterly Earnings Results, Beats Estimates By $0.28 EPS

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Elastic (NYSE:ESTC) announced its quarterly earnings data on Wednesday. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.28, Briefing.com reports. The business had revenue of $101.10 million during the quarter, compared to the consensus estimate of $96.51 million. Elastic had a negative net margin of 41.18% and a negative return on equity of 44.92%. The company’s revenue for the quarter was up 59.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.38) EPS.

NYSE:ESTC opened at $78.20 on Thursday. The stock has a market cap of $6.20 billion and a price-to-earnings ratio of -43.44. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.06 and a current ratio of 2.06. Elastic has a 1 year low of $60.78 and a 1 year high of $104.10. The business has a fifty day moving average of $75.42 and a 200-day moving average of $83.05.

ESTC has been the subject of a number of research reports. Stifel Nicolaus restated a “hold” rating on shares of Elastic in a research note on Thursday. Barclays set a $105.00 price target on Elastic and gave the stock a “buy” rating in a report on Friday, November 1st. Zacks Investment Research cut shares of Elastic from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. Citigroup increased their price objective on shares of Elastic from $98.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Finally, Piper Jaffray Companies started coverage on shares of Elastic in a research report on Monday, October 28th. They issued an “overweight” rating and a $93.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $101.57.

In other news, CEO Shay Banon sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $76.07, for a total value of $760,700.00. Following the completion of the sale, the chief executive officer now directly owns 8,443,358 shares of the company’s stock, valued at approximately $642,286,243.06. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP W.H. Baird Garrett sold 3,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $94.00, for a total transaction of $282,000.00. Insiders have sold 503,189 shares of company stock worth $44,877,269 over the last three months. Corporate insiders own 44.20% of the company’s stock.

About Elastic

Elastic N.V. develops and delivers technology that enables users to search structured and unstructured data for a range of consumer and enterprise applications. It primarily provides 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.

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Earnings History for Elastic (NYSE:ESTC)

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