Elastic (NYSE:ESTC) Issues Q3 2020 After-Hours Earnings Guidance

Elastic (NYSE:ESTC) updated its third quarter 2020
After-Hours earnings guidance on Wednesday. The company provided EPS guidance of -0.36–0.34 for the period, compared to the Thomson Reuters consensus EPS estimate of $-0.33. The company issued revenue guidance of $106-108 million, compared to the consensus revenue estimate of $105.93 million.Elastic also updated its FY 2020
After-Hours guidance to -1.24–1.17 EPS.

A number of equities research analysts have issued reports on the company. ValuEngine downgraded Elastic from a buy rating to a hold rating in a research note on Thursday, November 28th. Bank of America boosted their price target on Elastic from $135.00 to $137.00 and gave the company a buy rating in a research note on Thursday, August 29th. Barclays set a $105.00 price target on Elastic and gave the company a buy rating in a research note on Friday, November 1st. Monness Crespi & Hardt boosted their price target on Elastic from $125.00 to $130.00 and gave the company a buy rating in a research note on Thursday, August 29th. Finally, Stifel Nicolaus boosted their price target on Elastic from $85.00 to $100.00 and gave the company a hold rating in a research note on Thursday, August 29th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $102.93.

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Shares of Elastic stock traded up $0.42 during trading hours on Wednesday, reaching $78.20. 1,823,495 shares of the stock traded hands, compared to its average volume of 1,046,014. The company has a 50 day moving average price of $75.56 and a 200 day moving average price of $83.08. The firm has a market capitalization of $6.20 billion and a price-to-earnings ratio of -43.44. Elastic has a one year low of $60.78 and a one year high of $104.10. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.11.

In other news, CEO Shay Banon sold 10,000 shares of Elastic stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $79.81, for a total transaction of $798,100.00. Also, SVP W.H. Baird Garrett sold 3,000 shares of Elastic stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $94.00, for a total value of $282,000.00. Over the last 90 days, insiders have sold 503,189 shares of company stock valued at $44,877,269. Corporate insiders own 44.20% of the company’s stock.

Elastic Company Profile

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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