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Elastic (ESTC) Q1 Earnings Preview: What You Should Know Beyond the Headline Estimates
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Wall Street analysts expect Elastic (ESTC - Free Report) to post quarterly earnings of $0.25 per share in its upcoming report, which indicates no change from the year-ago quarter. Revenues are expected to be $344.4 million, up 17.2% 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 release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link 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 consensus estimate for 'Revenue- Services' stands at $24.77 million. The estimate indicates a change of +5.4% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Revenue- Subscription' of $319.67 million. The estimate indicates a change of +18.3% from the prior-year quarter.
Analysts' assessment points toward 'Revenue- Subscription- Elastic Cloud' reaching $155.00 million. The estimate indicates a year-over-year change of +27.9%.
Based on the collective assessment of analysts, 'Revenue- Subscription- Other subscription' should arrive at $164.66 million. The estimate suggests a change of +10.5% year over year.
Shares of Elastic have demonstrated returns of -6.2% over the past month compared to the Zacks S&P 500 composite's +1.5% change. With a Zacks Rank #2 (Buy), ESTC is expected to beat the overall market performance 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) Q1 Earnings Preview: What You Should Know Beyond the Headline Estimates
Wall Street analysts expect Elastic (ESTC - Free Report) to post quarterly earnings of $0.25 per share in its upcoming report, which indicates no change from the year-ago quarter. Revenues are expected to be $344.4 million, up 17.2% 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 release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link 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 consensus estimate for 'Revenue- Services' stands at $24.77 million. The estimate indicates a change of +5.4% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Revenue- Subscription' of $319.67 million. The estimate indicates a change of +18.3% from the prior-year quarter.
Analysts' assessment points toward 'Revenue- Subscription- Elastic Cloud' reaching $155.00 million. The estimate indicates a year-over-year change of +27.9%.
Based on the collective assessment of analysts, 'Revenue- Subscription- Other subscription' should arrive at $164.66 million. The estimate suggests a change of +10.5% year over year.
View all Key Company Metrics for Elastic here>>>
Shares of Elastic have demonstrated returns of -6.2% over the past month compared to the Zacks S&P 500 composite's +1.5% change. With a Zacks Rank #2 (Buy), ESTC is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>