Shares in Elastic NV (ESTC) fell 7% in after-hours trading on Wednesday after the company reported strong fiscal fourth quarter results, but disappointed with weak guidance.Specifically, Q4 Non-GAAP EPS of -$0.12 beat consensus estimates by $0.19 while GAAP EPS of -$0.38 came in $0.15 above expectations. Revenue of $123.62M surged 53.4% year-over-year thanks to better execution and broad product traction, and beat Street estimates by $6.47M.However, FY21 guidance was below consensus taking into account expected (not yet witnessed) macro headwinds. Total revenue is expected to be between $530 million and $540 million (vs consensus of $561.3M), with non-GAAP operating margin between -15% and -13%. Non-GAAP net loss per share is now guided at $0.98 and $0.85 (vs. -$1.32 expected).“We believe it is prudent to expect some near-term business headwinds as the economic impact from the COVID-19 situation further unfolds. As such, our guidance includes the expected impact of COVID‑19 on our business and results of operations based on information available to us today” the company explained.Following the report, five-star Oppenheimer analyst Ittai Kidron reiterated his ESTC buy rating while ramping up his price target to a Street-high $95 (6% upside potential).“Looking closely, while we’re mindful of a potential slowdown, we believe there are plenty of positive points for investors to take note of such as (1) a rebound in activity in April/ May after a brief pause in March; (2) strong customer metrics (>130% expansion) and broad product traction; and (3) improving margins/FCF even with planned investments” Kidron cheered.Overall, he sees multiple growth levers (upselling, new use cases, customer growth/ expansion) coupled with a conservative view from management- and as a result maintains a positive stance on the shares.Indeed, all 7 analysts coverings Elastic rating the stock a buy, giving it a Strong Buy consensus. However, shares in Elastic are currently trading up 39% year-to-date, and as a result the average analyst price target of $76 now indicates 14% downside potential. (See ESTC stock analysis on TipRanks).Related News: Zoom Lifts Full-Year Sales Guidance As Quarterly Revenue Balloons 169% Facebook And PayPal Invest In Indonesian App Gojek Amazon Leases 12 Boeing Cargo Aircraft To Meet Online Orders Surge More recent articles from Smarter Analyst: * Uber CEO Reveals Pickup In May Rides As Covid-19 Restrictions Ease * Billionaire Investor Dan Loeb’s Fund Lists Boeing As Top Winner In May * Costco Reports May Sales Jump; Top Analyst Says Stock ‘Best Positioned’ For Current Crisis * Amazon Leases 12 Boeing Cargo Aircraft To Meet Online Orders Surge
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The shares of Genius Brands International Inc. (NASDAQ: GNUS), a company until recently struggling to keep itself listed on Nasdaq, have added 2458% since May.The surge has come following a string of operational advancements and investments announced by the children entertainment company.New Network Brand The biggest of these is the anticipated launch of "Kartoon Channel" on June 15. Genius Brands said early May it was merging its two channels, "Kid Genius Cartoon Channel" and "Baby Genius TV," to create the new digital network.Kartoon Channel "will be available in over 100 million U.S. television households, and over 200 million mobile devices," and will stream on Amazon.com Inc.'s (NASDAQ: AMZN) Prime Video and Apple Inc.'s (NASDAQ: AAPL) Apple TV, among other platforms, the company said at the time.CEO Andy Heyward described the channel as a "turning point" in a letter to shareholders, and dubbed it free Netflix Inc. (NASDAQ: NFLX) for kids.Genius Brands announced around the same time that a toy line for its show "Rainbow Rangers" developed by Mattel Inc. (NASDAQ: MAT) will debut at Walmart Inc. (NYSE: WMT) stores in August.)Delisting At Nasdaq Canceled The Beverly Hills-based company announced four registered offerings of its shares in May, including .8 million and .4 million at $0.35 per share, million at $1.2 per share, and million at $1.5 per share.On May 28. Genius Brands said it had met the criteria of its shares closing at higher than $1 for ten consecutive days, and the company will no longer get delisted from Nasdaq.Price Action Genius Brands shares closed 97.3% higher at $7.93 on Wednesday. The shares traded another 9.7% higher in the after-hours session at $8.70.Image: Genius BrandsSee more from Benzinga * Zuora Shares Surge 21% As Company Reports Q1 Earnings Beat * BlackRock Sees These Opportunities As Best In Asia To Outlast Coronavirus * Google Takes Down 'Remove China Apps' With 5M Downloads(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.