Why Elastic Stock Spiked Today

Why Elastic Stock Spiked Today
Chris Neiger, The Motley Fool

Shares of Elastic NV (NYSE: ESTC) skyrocketed today after the company released its second-quarter results yesterday that beat analysts' consensus estimates. Elastic's revenue increased 43% year over year to $144.9 million, which was far better than the $130.5 million that analysts were estimating for the second quarter. Additionally, the company's adjusted net loss of $0.03 easily outpaced the consensus estimate of a loss of $0.20 per share.