Curious about Elastic (ESTC) Q2 Performance? Explore Wall Street Estimates for Key Metrics

Wall Street analysts expect Elastic (ESTC) to post quarterly earnings of $0.38 per share in its upcoming report, which indicates a year-over-year increase of 2.7%. Revenues are expected to be $354.24 million, up 14.1% from the year-ago quarter.The consensus EPS estimate for the quarter has undergone a downward revision of 0.7% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.Bearing this in mind, let's now explore the average estimates of specific Elastic metrics that are commonly monitored and projected by Wall Street analysts.Analysts expect 'Revenue- Services' to come in at $23.69 million. The estimate suggests a change of +3.6% year over year.It is projected by analysts that the 'Revenue- Subscription' will reach $330.60 million. The estimate indicates a change of +14.9% from the prior-year quarter.Based on the collective assessment of analysts, 'Revenue- Subscription- Elastic Cloud' should arrive at $163.59 million. The estimate suggests a change of +21.2% year over year.The consensus estimate for 'Revenue- Subscription- Other subscription' stands at $167.16 million. The estimate indicates a change of +9.4% from the prior-year quarter.View all Key Company Metrics for Elastic here>>>Shares of Elastic have experienced a change of +5.8% in the past month compared to the +1.1% move of the Zacks S&P 500 composite. With a Zacks Rank #4 (Sell), ESTC is expected to underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Elastic N.V. (ESTC): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks