The upcoming report from Elastic (ESTC) is expected to reveal quarterly earnings of $0.42 per share, indicating an increase of 20% compared to the year-ago period. Analysts forecast revenues of $396.89 million, representing an increase of 14.2% year over year.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Bearing this in mind, let's now explore the average estimates of specific Elastic metrics that are commonly monitored and projected by Wall Street analysts.
The consensus estimate for 'Revenue- Services' stands at $25.24 million. The estimate points to a change of +6.7% from the year-ago quarter.
The consensus among analysts is that 'Revenue- Subscription' will reach $371.59 million. The estimate points to a change of +14.8% from the year-ago quarter.
Based on the collective assessment of analysts, 'Revenue- Subscription- Elastic Cloud' should arrive at $189.97 million. The estimate suggests a change of +20.8% year over year.
Analysts predict that the 'Revenue- Subscription- Other subscription' will reach $181.93 million. The estimate indicates a change of +9.3% from the prior-year quarter.
View all Key Company Metrics for Elastic here>>>
Over the past month, shares of Elastic have returned -10.9% versus the Zacks S&P 500 composite's +2.7% change. Currently, ESTC carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Elastic N.V. (ESTC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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