Wall Street analysts expect Elastic (ESTC) to post quarterly earnings of $0.37 per share in its upcoming report, which indicates a year-over-year increase of 76.2%. Revenues are expected to be $380.07 million, up 13.5% 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.

Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.

While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.

Given this perspective, it's time to examine the average forecasts of specific Elastic metrics that are routinely monitored and predicted by Wall Street analysts.

Based on the collective assessment of analysts, 'Revenue- Services' should arrive at $24.31 million. The estimate indicates a change of +1.2% from the prior-year quarter.

It is projected by analysts that the 'Revenue- Subscription' will reach $355.67 million. The estimate indicates a year-over-year change of +14.4%.

Analysts' assessment points toward 'Revenue- Subscription- Elastic Cloud' reaching $181.66 million. The estimate suggests a change of +22.8% year over year.

Analysts expect 'Revenue- Subscription- Other subscription' to come in at $173.23 million. The estimate suggests a change of +6.3% year over year.

View all Key Company Metrics for Elastic here>>>

Over the past month, Elastic shares have recorded returns of +13.3% versus the Zacks S&P 500 composite's +10.7% change. Based on its Zacks Rank #3 (Hold), ESTC will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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Elastic N.V. (ESTC):Free Stock Analysis Report

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