Elastic(US:ESTC) zacks.com·2024-05-24 14:23Core Insights - Wall Street analysts forecast that Elastic (ESTC) will report quarterly earnings of $0.19 per share, reflecting a year-over-year decline of 13.6% while revenues are expected to reach $329.17 million, indicating a 17.6% increase compared to the same quarter last year [1] Earnings Estimates - There has been no revision in the consensus EPS estimate for the quarter over the last 30 days, indicating stability in analysts' forecasts [2] - Revisions to earnings projections are crucial for predicting investor behavior and are strongly linked to short-term stock price performance [3] Revenue Breakdown - Analysts predict 'Revenue- Services' will be $23.86 million, showing a year-over-year change of +0.2% [5] - 'Revenue- Subscription' is expected to reach $308.64 million, reflecting a +20.5% change from the prior-year quarter [5] - 'Revenue- Subscription- Elastic Cloud' is forecasted at $145.25 million, indicating a +29.3% change from the prior-year quarter [5] - 'Revenue- Subscription- Other subscription' is estimated to be $159.95 million, showing an +11.2% change from the prior-year quarter [6] Stock Performance - Shares of Elastic have changed by +1.2% in the past month, compared to a +4% move of the Zacks S&P 500 composite, with a Zacks Rank 3 (Hold) suggesting that ESTC is expected to mirror overall market performance in the near future [6]