Stock Alert: Elastic Rises To New 52-week High; Loss Narrows, Outlook Better Than View

(RTTNews) - Shares of Elastic N.V. (ESTC), a search company, are climbing more than 14 percent or $17.16 in Thursday's morning trade at $137.06, after touching a new 52-week high of $142.96.

Wednesday, Elastic reported that its second-quarter net loss narrowed to $29.2 million or $0.34 per share from $49.9 million or $0.64 per share last year. Adjusted loss was $0.03 per share, compared to $0.22 per share in the year-ago period. Revenues grew 43 percent to $144.89 million from $101.11 million a year ago. Analysts polled by Thomson Reuters expected loss of $0.20 per share on revenues of $130.5 million.

For the third quarter, the company expects revenues between $145 million and $147 million and adjusted loss between $0.16 and $0.14 per shares. Analysts currently estimate loss of $0.28 per share and revenues of $139.76 million.

Elastic has traded in a range of $39.01 to $142.96 in the past 52 weeks.