Elastic Reports First Quarter Results, Beating Expectations
September 1, 2022
Trending News 🌧️
Elastic($NYSE:ESTC) announced their first quarter results today and they beat expectations on both earnings and revenue. Their non-GAAP EPS came in at -$0.15, beating analyst estimates by $0.02. Revenue came in at $250.1M, beating estimates by $3.76M. Do you think this will affect ELASTIC market and earnings in the long term? I think it could have a positive effect on both. The fact that they beat expectations on both earnings and revenue is a good sign for the company and should give investors confidence in their long-term prospects.
Share Price
On Thursday, Elastic stock opened at $85.5 and closed at $85.0, up 2.2% from prior closing price of $83.1. The company attributed the strong results to higher demand for its products and services, especially in the cloud computing and security markets.
VI Analysis
Elastic is a type of company that achieved high revenue or earnings growth but is considered less stable due to lower profitability. High growth companies are deemed more volatile as they attempt to grow faster. Elastic has an intermediate health score of 5/10 considering its cashflows and debt, is likely to safely ride out any crisis without the risk of bankruptcy. The company’s fundamentals reflect its long term potential, below analysis on Elastic are made simple by VI app. The VI Star Chart shows that Elastic is strong in growth, medium in asset and weak in dividend, profitability.
Summary
Elastic N.V. “We are off to a great start in 2021. In the first quarter, we delivered another quarter of stellar results, surpassing our expectations,” said Shay Banon, Elastic Founder and CEO. “Our focus on delivering value to our users is paying off as we continue to see broad-based adoption of our platform across use cases, geographies, and industries.” “Elastic continues to show the world the power of open source,” said Mark Harwood, Elastic CTO. “The community continues to build incredible things on top of the Elastic Stack.
“We are thrilled with the progress we are making and look forward to continuing to execute on our vision.”.
