Analysts on Wall Street project that Elastic (ESTC) will announce quarterly earnings of $0.56 per share in its forthcoming report, representing an increase of 19.2% year over year. Revenues are projected to reach $446.3 million, increasing 14.9% from the same quarter last year.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
That said, let's delve into the average estimates of some Elastic metrics that Wall Street analysts commonly model and monitor.
According to the collective judgment of analysts, 'Revenue- Subscription- Elastic Cloud' should come in at $216.86 million. The estimate suggests a change of +19.5% year over year.
The consensus estimate for 'Revenue- Subscription' stands at $420.64 million. The estimate suggests a change of +16.3% year over year.
Analysts predict that the 'Revenue- Subscription- Other subscription' will reach $204.05 million. The estimate indicates a year-over-year change of +13.2%.
The consensus among analysts is that 'Revenue- Services' will reach $25.74 million. The estimate indicates a change of -3.6% from the prior-year quarter.
View all Key Company Metrics for Elastic here>>>Over the past month, Elastic shares have recorded returns of +17.7% versus the Zacks S&P 500 composite's +5.5% change. Based on its Zacks Rank #3 (Hold), ESTC will likely exhibit a performance that aligns with 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 Report
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