Elastic’s Upcoming Q4 Earnings Preview
<p>RBC Capital analysts provided their outlook on <a href='https://financialmodelingprep.com/financial-summary/ESTC'>Elastic (NYSE:ESTC)</a> ahead of the company’s upcoming Q4/23 earnings, scheduled tomorrow.</p>
<p>The analysts expect a small improvement in revenue, billings, and profitability as the emphasis is placed on stabilizing outcomes and enhancing profitability. While macros will likely continue to pressure cloud growth, the analysts like the preliminary fiscal 2024 guidance which was provided last quarter as they believe it embeds a healthy level of conservatism with upside opportunities.</p> 
<p>The analysts think estimates bottom in 2024 with a potential for re-acceleration in 2025. The analysts raised their price target to $84 from $71 while maintaining their Outperform rating.</p>

NYSE:ESTC