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Elastic (ESTC) Q3 Earnings on the Horizon: Analysts' Insights on Key Performance Measures
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Wall Street analysts expect Elastic (ESTC - Free Report) to post quarterly earnings of $0.47 per share in its upcoming report, which indicates a year-over-year increase of 30.6%. Revenues are expected to be $368.32 million, up 12.3% from the year-ago quarter.
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 use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
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.
Based on the collective assessment of analysts, 'Revenue- Services' should arrive at $21.55 million. The estimate points to a change of +6% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Revenue- Subscription' of $346.74 million. The estimate indicates a change of +12.7% from the prior-year quarter.
The consensus estimate for 'Revenue- Subscription- Elastic Cloud' stands at $174.25 million. The estimate indicates a change of +21.5% from the prior-year quarter.
The combined assessment of analysts suggests that 'Revenue- Subscription- Other subscription' will likely reach $172.64 million. The estimate indicates a change of +5.1% from the prior-year quarter.
Over the past month, shares of Elastic have returned +1.9% versus the Zacks S&P 500 composite's -0.5% change. Currently, ESTC carries a Zacks Rank #2 (Buy), suggesting that it may outperform 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 (ESTC) Q3 Earnings on the Horizon: Analysts' Insights on Key Performance Measures
Wall Street analysts expect Elastic (ESTC - Free Report) to post quarterly earnings of $0.47 per share in its upcoming report, which indicates a year-over-year increase of 30.6%. Revenues are expected to be $368.32 million, up 12.3% from the year-ago quarter.
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 use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
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.
Based on the collective assessment of analysts, 'Revenue- Services' should arrive at $21.55 million. The estimate points to a change of +6% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Revenue- Subscription' of $346.74 million. The estimate indicates a change of +12.7% from the prior-year quarter.
The consensus estimate for 'Revenue- Subscription- Elastic Cloud' stands at $174.25 million. The estimate indicates a change of +21.5% from the prior-year quarter.
The combined assessment of analysts suggests that 'Revenue- Subscription- Other subscription' will likely reach $172.64 million. The estimate indicates a change of +5.1% from the prior-year quarter.
View all Key Company Metrics for Elastic here>>>
Over the past month, shares of Elastic have returned +1.9% versus the Zacks S&P 500 composite's -0.5% change. Currently, ESTC carries a Zacks Rank #2 (Buy), suggesting that it may outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>