ESTC Stock Recent News

Elastic (NYSE: ESTC ) stock is rising higher on Friday as investors celebrate results from the data analytics company's most recent earnings report. The positive news for ESTC shareholders starts with the company's adjusted earnings per share of 37 cents.

Shares were up more than 20% in early trading Friday.

Elastic NV (NYSE:ESTC) shares were up nearly 22% on Friday morning in premarket trading after delivering a fiscal 2Q 2024 earnings beat. The American-Dutch tech company reported earnings of $0.37 per share, exceeding the consensus estimate of $0.24, with quarterly sales reaching $310.6 million, surpassing the analyst target of $304.1 million.

Elastic N.V. (NYSE:ESTC ) Q2 2024 Earnings Conference Call November 30, 2023 5:00 PM ET Company Participants Anthony Luscri - VP, IR Ashutosh Kulkarni - CEO Janesh Moorjani - CFO and COO Conference Call Participants Brent Thill - Jefferies Raimo Lenschow - Barclays Harshil Thakkar - Oppenheimer Pinjalim Bora - JPMorgan Brad Reback - Stifel Matthew Hedberg - RBC Capital Markets Yitchuin Wong - Citi Kash Rangan - Goldman Sachs Koji Ikeda - Bank of America Securities Rob Owens - Piper Sandler Andrew Nowinski - Wells Fargo Shrenik Kothari - Robert Baird Kingsley Crane - Canaccord Michael Cikos - Needham and Company Operator Good afternoon, and welcome to the Elastic Second Quarter Fiscal 2024 Earnings Results Conference Call.

Although the revenue and EPS for Elastic (ESTC) give a sense of how its business performed in the quarter ended October 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

ESTC stock surged late Thursday after data analytics company Elastic reported adjusted EPS of 37 cents, $311 million in sales.

SAN FRANCISCO--(BUSINESS WIRE)--Elastic (NYSE: ESTC) (“Elastic”), the company behind Elasticsearch®, announced that its management will present at the Barclays Global Technology Conference on Thursday, December 7, 2023 at 11:00 a.m. PT / 2:00 p.m. ET. A live webcast and replay of the event will be available on Elastic's Investor Relations page at ir.elastic.co. About Elastic Elastic (NYSE: ESTC) is a leading platform for search-powered solutions. Elastic understands it's the answers, not just t.

SAN FRANCISCO--(BUSINESS WIRE)--Elastic (NYSE: ESTC) (“Elastic”), the company behind Elasticsearch®, announced that it will release its financial results for its second quarter fiscal 2024 ended October 31, 2023 after the U.S. market close on Thursday, November 30, 2023. The company will host a conference call at 2:00 p.m. PT/ 5:00 p.m. ET that day to review its financial results and business outlook. A live webcast and replay of the conference call will be accessible from the Elastic investor.

Elastic, an infrastructure software company, has performed well in a down market, with a 50% increase in stock price this year. Revenue growth has held in the high teens alongside strong net retention rates. Elastic's suite of tools for enterprise search, security, and APM, along with its recurring revenue model and profitability, contribute to its positive outlook.

Elastic's stock has performed well recently, on the back of improved sentiment from Elastic's exposure to generative AI and vector databases. While ESTC is well positioned to benefit from the use of generative AI in enterprise search, its competitive positioning in the relatively large observability and security markets remains weak. Elastic is no longer an obvious buy based on valuation alone, and further share price gains will likely require a significant improvement in growth/profitability.