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Why Elastic Stock Spiked Today

TheMotleyFool

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Shares of Elastic NV (NYSE: ESTC) skyrocketed today after the company released its second-quarter results yesterday that beat analysts' consensus estimates.

The tech stock was up by as much as 19.2% today and had gained 15.3% as of 11:55 a.m. EST.

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.

Source Fool.com

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