Elastic (ESTC) Stock Jumps 22% After Q1 Earnings Beat and Raised Guidance
TLDR
- Elastic stock jumped 22% to $101.95 pre-market after beating Q1 earnings estimates
- Adjusted EPS came in at $0.70, topping the $0.58 analyst consensus
- Revenue hit $478 million, up 15% year-over-year, above the $470 million estimate
- Full-year EPS guidance raised to $3.29-$3.37, above the $3.24 consensus
- Cantor analyst Thomas Blakey raised his price target to $100 from $91 but kept a Neutral rating
Elastic stock was trading up 22% to $101.95 in pre-market trading on Friday after the company posted a strong fiscal Q1 beat and raised its full-year outlook.
Adjusted earnings per share came in at $0.70, beating the analyst consensus of $0.58 by $0.12. Revenue reached $478 million, up 15% year-over-year, clearing the $470 million estimate Wall Street had penciled in.
It adds Elastic to a growing list of software names that have topped expectations this week.
ELASTIC $ESTC Q1โ27 EARNINGS HIGHLIGHTS
๐น Revenue: $478M (Est. $470M) ๐ข; +15% YoY
๐น Adj. EPS: $0.70 (Est. $0.58) ๐ข; +17% YoY
๐น Current RPO: $1.15B; +21% YoY
๐น Adjusted FCF: $143Mโฆ Continue reading the full article at the original source below.
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