Elastic helps its customers build search applications.
Dreamstime
Data analytics company
Elastic
raised its expectations for revenue and profit as it harvests the benefits of generative artificial intelligence. Analysts say buy the stock as AI can offer more financial gains.
On Thursday after market close, Elastic, which helps customers build search applications, said it expects $1.06 to $1.15 per share in earnings for the year ending in April. This estimate was higher than management’s previous call for $1.01 to $1.11 a share and beat consensus of $1.08 per share among analysts tracking the stock on
FactSet.
Total revenue is expected to be between $1.247 billion and $1.253 billion, higher than management’s prior estimate and the midpoint was at the upper…
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