Elastic (ESTC) Scheduled to Post Earnings on Thursday

Elastic (NYSE:ESTC) is set to issue its quarterly earnings data after the market closes on Thursday, November 21st. Analysts expect the company to announce earnings of $0.38 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.25 by $0.10. Elastic had a net margin of 4.62% and a negative return on equity of 17.54%. The business had revenue of $347.42 million during the quarter, compared to the consensus estimate of $344.67 million. During the same period in the previous year, the business earned ($0.35) earnings per share. The company’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 Up 2.5 %

NYSE ESTC opened at $88.25 on Wednesday. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. The business has a fifty day moving average price of $80.43 and a two-hundred day moving average price of $97.11. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.91 and a quick ratio of 1.91. The stock has a market capitalization of $9.07 billion, a PE ratio of 160.45 and a beta of 0.94.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ESTC shares. Truist Financial reduced their price objective on Elastic from $140.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. DA Davidson decreased their price target on shares of Elastic from $100.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, August 30th. Royal Bank of Canada dropped their price objective on shares of Elastic from $135.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, August 30th. Citigroup boosted their target price on shares of Elastic from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Finally, Canaccord Genuity Group dropped their price target on Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.19.

Insiders Place Their Bets

In related news, CFO Janesh Moorjani sold 6,941 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $487,605.25. Following the sale, the chief financial officer now owns 195,550 shares in the company, valued at $13,737,387.50. This represents a 3.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul R. Auvil III bought 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $74.25 per share, with a total value of $1,485,000.00. Following the purchase, the director now directly owns 22,627 shares of the company’s stock, 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. In the last 90 days, insiders sold 37,406 shares of company stock worth $2,627,772. 15.90% of the stock is currently owned by insiders.

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.