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.
A number of research analysts have weighed in on ESTC shares. Canaccord Genuity assumed coverage on shares of Elastic in a research note on Tuesday, October 30th. They issued a hold rating and a $65.00 target price on the stock. Citigroup began coverage on shares of Elastic in a research report on Tuesday, October 30th. They issued a neutral rating and a $74.00 price target for the company. Royal Bank of Canada initiated coverage on shares of Elastic in a research report on Tuesday, October 30th. They set an outperform rating and a $71.00 price objective for the company. Bank of America initiated coverage on shares of Elastic in a research report on Tuesday, October 30th. They issued a buy rating and a $81.00 price target for the company. Finally, JPMorgan Chase & Co. assumed coverage on shares of Elastic in a research note on Tuesday, October 30th. They issued a neutral rating and a $60.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $70.38.
Shares of Elastic stock traded down $9.48 during trading hours on Tuesday, reaching $72.52. The company’s stock had a trading volume of 1,079,417 shares, compared to its average volume of 296,974. Elastic has a one year low of $58.55 and a one year high of $83.84.
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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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