Elastic (NYSE:ESTC) Announces Earnings Results, Beats Estim…


Elastic (NYSE:ESTC) announced its quarterly earnings data on Tuesday, December 4th. The company reported ($0.38) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.47) by $0.09, Briefing.com reports. The business had revenue of $63.60 million during the quarter, compared to analysts’ expectations of $56.54 million. The business’s revenue for the quarter was up 71.9% compared to the same quarter last year.

Elastic stock opened at $69.65 on Thursday. Elastic has a twelve month low of $58.55 and a twelve month high of $83.84.

A number of research analysts have recently commented on ESTC shares. Citigroup upped their target price on Elastic from $74.00 to $82.00 and gave the company a “neutral” rating in a research note on Thursday, December 6th. Monness Crespi & Hardt started coverage on Elastic in a research note on Monday. They set a “buy” rating and a $100.00 target price on the stock. Jefferies Financial Group started coverage on Elastic in a research note on Tuesday, October 30th. They set a “hold” rating and a $65.00 target price on the stock. Barclays upped their target price on Elastic to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, December 5th. Finally, Royal Bank of Canada initiated coverage on Elastic in a research note on Tuesday, October 30th. They issued an “outperform” rating and a $71.00 price objective on the stock. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $75.22.

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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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