Elastic (ESTC) Q3 Earnings on the Horizon: Analysts' Insights on Key Performance Measures
In its upcoming report, Elastic (ESTC) is predicted by Wall Street analysts to post quarterly earnings of $0.31 per share, reflecting an increase of 82.4% compared to the same period last year. Revenues are forecasted to be $320.48 million, representing a year-over-year increase of 16.7%.
The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over 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 a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
With that in mind, let's delve into the average projections of some Elastic metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts' assessment points toward 'Revenue- Services' reaching $20.73 million. The estimate suggests a change of +9.4% year over year.
Analysts forecast 'Revenue- Subscription' to reach $299.75 million. The estimate indicates a year-over-year change of +17.3%.
Based on the collective assessment of analysts, 'Revenue- Subscription- Elastic Cloud' should arrive at $144.52 million. The estimate points to a change of +30.5% from the year-ago quarter.
The consensus estimate for 'Revenue- Subscription- Other subscription' stands at $155.20 million. The estimate suggests a change of +7.1% year over year.
View all Key Company Metrics for Elastic here>>>
Elastic shares have witnessed a change of +10.2% in the past month, in contrast to the Zacks S&P 500 composite's +4.7% move. With a Zacks Rank #2 (Buy), ESTC is expected outperform the overall market performance in the near term. 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
