Elastic (NYSE:ESTC) updated its FY19 earnings guidance on Tuesday. The company provided earnings per share guidance of ($1.35-1.30) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($1.38). The company issued revenue guidance of $254-258 million, compared to the consensus revenue estimate of $237.03 million.Elastic also updated its FY 2019 guidance to $-1.35–1.3 EPS.
Several analysts have commented on the stock. Barclays raised their target price on shares of Elastic to $85.00 and gave the stock an overweight rating in a report on Wednesday. Jefferies Financial Group assumed coverage on shares of Elastic in a report on Tuesday, October 30th. They set a hold rating and a $65.00 target price on the stock. Royal Bank of Canada assumed coverage on shares of Elastic in a report on Tuesday, October 30th. They set an outperform rating and a $71.00 target price on the stock. Goldman Sachs Group assumed coverage on shares of Elastic in a report on Tuesday, October 30th. They set a buy rating and a $68.00 target price on the stock. Finally, Citigroup assumed coverage on shares of Elastic in a report on Tuesday, October 30th. They set a neutral rating and a $74.00 target price on the stock. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Elastic currently has an average rating of Buy and an average target price of $71.13.
Shares of ESTC stock opened at $72.52 on Thursday. Elastic has a 52 week low of $58.55 and a 52 week high of $83.84.
Elastic (NYSE:ESTC) last issued its quarterly earnings results on Tuesday, December 4th. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.09. The business had revenue of $63.60 million for the quarter, compared to the consensus estimate of $56.54 million. The firm’s quarterly revenue was up 71.9% on a year-over-year basis.
COPYRIGHT VIOLATION WARNING: “Elastic (ESTC) Issues FY19 Earnings Guidance” was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this article on another site, it was copied illegally and republished in violation of international trademark & copyright law. The original version of this article can be accessed at https://www.dispatchtribunal.com/2018/12/06/elastic-estc-issues-fy19-earnings-guidance.html.
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.
Featured Story: Fundamental Analysis and Individual Investors
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.