Elastic (NYSE:ESTC) Releases FY 2022 Earnings Guidance

Elastic (NYSE:ESTC) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $-0.670-$-0.570 for the period, compared to the Thomson Reuters consensus estimate of $-0.500. The company issued revenue guidance of $808 million-$814 million, compared to the consensus revenue estimate of $789.10 million.Elastic also updated its Q2 2022 guidance to $-0.190-$-0.150 EPS.

NYSE ESTC traded up $1.67 on Wednesday, reaching $161.78. The stock had a trading volume of 3,292 shares, compared to its average volume of 933,685. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.71 and a quick ratio of 2.71. The firm has a fifty day moving average of $152.97 and a two-hundred day moving average of $134.14. Elastic has a 1-year low of $97.48 and a 1-year high of $176.49. The company has a market cap of $14.85 billion, a P/E ratio of -98.61 and a beta of 1.08.

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

A number of research analysts have commented on ESTC shares. Royal Bank of Canada upped their price objective on Elastic from $194.00 to $200.00 and gave the company an outperform rating in a report on Thursday, August 26th. Canaccord Genuity reduced their target price on Elastic from $175.00 to $155.00 and set a buy rating on the stock in a report on Thursday, June 3rd. Jefferies Financial Group increased their target price on Elastic from $150.00 to $175.00 and gave the stock a buy rating in a report on Tuesday, July 13th. Stifel Nicolaus increased their target price on Elastic from $180.00 to $200.00 and gave the stock a buy rating in a report on Thursday, August 26th. Finally, Oppenheimer increased their target price on Elastic from $170.00 to $185.00 and gave the stock an outperform rating in a report on Thursday, August 26th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Elastic has a consensus rating of Buy and a consensus price target of $178.50.

In other news, Director Steven Schuurman sold 500,000 shares of the stock in a transaction dated Wednesday, September 8th. The stock was sold at an average price of $165.35, for a total value of $82,675,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP W.H. Baird Garrett sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 30th. The stock was sold at an average price of $148.13, for a total value of $148,130.00. The disclosure for this sale can be found here. Insiders sold 514,698 shares of company stock valued at $84,959,034 over the last quarter. Corporate insiders own 20.40% of the company’s stock.

About Elastic

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.

See Also: What is a dead cat bounce?

Earnings History and Estimates for Elastic (NYSE:ESTC)

Receive News & Ratings for Elastic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elastic and related companies with MarketBeat.com's FREE daily email newsletter.