Analysts on Wall Street project that Elastic (ESTC) will announce quarterly earnings of $0.64 per share in its forthcoming report, representing an increase of 1.6% year over year. Revenues are projected to reach $438.15 million, increasing 14.7% from the same quarter last 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.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
In light of this perspective, let's dive into the average estimates of certain Elastic metrics that are commonly tracked and forecasted by Wall Street analysts.
The collective assessment of analysts points to an estimated 'Revenue- Services' of $24.66 million. The estimate suggests a change of +3.3% year over year.
Analysts' assessment points toward 'Revenue- Subscription' reaching $412.58 million. The estimate indicates a year-over-year change of +15.2%.
It is projected by analysts that the 'Revenue- Subscription- Elastic Cloud' will reach $216.19 million. The estimate indicates a change of +20.1% from the prior-year quarter.
Analysts predict that the 'Revenue- Subscription- Other subscription' will reach $196.22 million. The estimate indicates a change of +10.1% from the prior-year quarter.
View all Key Company Metrics for Elastic here>>>
Over the past month, Elastic shares have recorded returns of -29% versus the Zacks S&P 500 composite's -1% change. Based on its Zacks Rank #2 (Buy), ESTC will likely outperform the overall market in the upcoming period. 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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