Elastic NV. (ESTC) PT Raised to $87 at RBC Capital

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Go back to Elastic NV. (ESTC) PT Raised to $87 at RBC Capital

Elastic NV. (ESTC) PT Raised to $68 at TD Cowen

September 1, 2023 6:50 AM EDT

TD Cowen analyst Andrew Sherman raised the price target on Elastic NV. (NYSE: ESTC) to $68.00 (from $65.00) while maintaining a Market Perform rating.

The analyst commented, "Cloud growth of 24% cc was $1m above our est, while total revs grew 17% & beat the high-end of... More

Elastic NV (ESTC) rallies 18% on beat and raise; Analyst highlight AI opportunity

September 1, 2023 6:33 AM EDT

Elastic NV (NYSE: ESTC) reported first-quarter results that topped analyst expectations.

Revenue reached $293.8 million, representing a 17% year-on-year increase and surpassing the estimate of $284.8 million. Adjusted earnings per share stood at 25 cents, well above the estimated 11 cents per share.

The adjusted gross margin was 76.5%, up from 73.9% year-on-year.

For the second quarter, Elastic anticipates adjusted earnings per share in the range of 23 cents to 25... More