RTTNews | Jun 3, 2021 10:46AM EDT

10:46 Thursday, June 3, 2021 (RTTNews.com) - Elastic N.V. (ESTC) shares are trading more than 6 percent up on Thursday morning after the company's projections for first-quarter and fiscal 2022 came in above estimates. Looking ahead to the first quarter, the company expects adjusted net loss in a range of $0.13-$0.10 per share, while revenue is expected between $171 million and $173 million. Wall Street analysts expect loss of $0.12 per share on revenue of $165.52 million.

For the fiscal year 2022, the company projects adjusted net loss between $0.60-$0.51 on revenue in a range of $782-$788 million. Analysts expect the company to report loss of $0.48 per share on revenue of $742.92 million. For the fourth quarter, the Elasticsearch and the Elastic Stack researcher reported net loss for the fourth quarter, wider than the previous year. The company reported fourth-quarter net loss of $43.30 million or $0.48 per share, compared to net loss of $31.15 million or $0.38 per share in the prior year. Revenue for the quarter increased 44 percent to $177.61 million from $123.62 million in the previous month.

Currently, shares are at $125.29, up 6.16 percent from the previous close of $118.02. For the 52-week period, the shares have traded in a range of $78.00-$176.49 on average volume of 1,111,754.

Read the original article on RTTNews ( https://www.rttnews.com/3199845/stock-alert-elastic-gains-6-as-q1-fy22-outlook-above-estimates.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved