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Elastic N.V. (ESTC), a search company, delivers technology that enables users to search through structured and unstructured data for a range of consumer and enterprise applications.
It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as perform search, analysis, and visualization.
The company's Elastic Stack product comprises Elasticsearch, a distributed, real-time search and analytics engine, and data store for various types of data, including textual, numerical, geospatial, structured, and unstructured; Kibana, a user interface, management, and configuration interface for the Elastic Stack; Beats, a single-purpose data shippers for sending data from edge machines to Elasticsearch or Logstash; and Logstash, a data processing pipeline for ingesting data into Elasticsearch or other storage systems.
It also provides software solutions on the Elastic Stack that address cases, including app search, site search, workplace search, logging, metrics, application performance management, business analytics, and security analytics. Its products are used by individual developers and organizations of a range of industries.
Elastic N.V. reported 1st Quarter July 2020 earnings of $0.03 per share on revenue of $128.9 million. The consensus estimate was a loss of $0.18 per share on revenue of $119.8 million. Revenue grew 43.7% on a year-over-year basis.
The company said it expects a second quarter non-GAAP loss of $0.22 to $0.20 per share on revenue of $129.0 million to $131.0 million. The current consensus estimate is a loss of $0.24 per share on revenue of $128.9 million for the quarter ending October 31, 2020. The company said it expects a fiscal 2021 loss of $0.83 to $0.69 per share on revenue of $544.0 million to $550.0 million. The company's previous guidance was loss of $0.98 to $0.85 per share on revenue of $530.0 million to $540.0 million and the current consensus estimate is a loss of $0.91 per share on revenue of $537.1 million for the year ending April 30, 2021.
Elastic is to hold it's ElasticON Virtual Conference Global Virtual Conference which is set to take place on October 13-15, 2020. The speaker's at the conference include comedian Trevor Noah, World Cup Champion Megan Rapinoe, Google Cloud CEO Thomas Kurian, and Elastic customers including Audi Business Innovation, Cisco, Shell International, Société Générale, and UC Davis. This conference should boost momentum for the stock in the coming days.
Entry Point: $120.00
Stop Loss: $114.00
Trading Range: $39.01 - $121.93
Target Price: $132.00
ESTC closed at $122.25
