Elastic (NYSE:ESTC) Updates FY25 Earnings Guidance

Elastic (NYSE:ESTC) updated its FY25 earnings guidance on Thursday. The company provided EPS guidance of $1.52-1.56 for the period, compared to the consensus EPS estimate of $1.42. The company issued revenue guidance of $1.436-1.444 billion, compared to the consensus revenue estimate of $1.48 billion. Elastic also updated its FY 2025 guidance to 1.520-1.560 EPS.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. DA Davidson lowered their price target on Elastic from $100.00 to $75.00 and set a neutral rating on the stock in a research report on Friday. TD Cowen lowered their target price on shares of Elastic from $110.00 to $80.00 and set a hold rating on the stock in a report on Friday. Truist Financial cut their price target on shares of Elastic from $140.00 to $105.00 and set a buy rating for the company in a research note on Friday. Barclays decreased their price objective on shares of Elastic from $117.00 to $106.00 and set an equal weight rating for the company in a research report on Friday. Finally, Wells Fargo & Company dropped their target price on shares of Elastic from $145.00 to $100.00 and set an overweight rating on the stock in a report on Friday. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $105.20.

Elastic Stock Performance

ESTC opened at $76.19 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.76 and a quick ratio of 1.76. The company has a market capitalization of $7.83 billion, a PE ratio of 143.75 and a beta of 0.98. The business has a fifty day simple moving average of $109.70 and a 200 day simple moving average of $108.37. Elastic has a 1 year low of $59.30 and a 1 year high of $136.06.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.10. Elastic had a net margin of 4.62% and a negative return on equity of 18.41%. The company had revenue of $347.42 million during the quarter, compared to analysts’ expectations of $344.67 million. During the same quarter in the previous year, the business posted ($0.35) earnings per share. Elastic’s quarterly revenue was up 18.3% on a year-over-year basis. Research analysts expect that Elastic will post -1.12 EPS for the current year.

Insiders Place Their Bets

In other news, CTO Shay Banon sold 180,000 shares of Elastic stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $107.82, for a total value of $19,407,600.00. Following the completion of the sale, the chief technology officer now directly owns 2,874,978 shares in the company, valued at $309,980,127.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CTO Shay Banon sold 180,000 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $107.82, for a total transaction of $19,407,600.00. Following the sale, the chief technology officer now directly owns 2,874,978 shares of the company’s stock, valued at approximately $309,980,127.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CRO Mark Eugene Dodds sold 3,457 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $110.78, for a total value of $382,966.46. Following the completion of the transaction, the executive now owns 82,498 shares in the company, valued at approximately $9,139,128.44. The disclosure for this sale can be found here. Insiders have sold a total of 355,312 shares of company stock worth $38,626,610 in the last quarter. Corporate insiders own 18.10% of the company’s stock.

About Elastic

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.