Elastic (ESTC) just dropped its Q2 earnings report, EPS $0.64 surpassed expectations of $0.58, with a year-on-year rise of 8.5%. Revenue of $423.48M also exceeded expectations, but this stock has fallen 10.9% from the beginning of the year, while the S&P 500 has risen 12.9%, which is indeed a bit lagging.

Interestingly, Elastic has beaten expectations for four consecutive quarters, indicating that the business is stable. However, how the stock price moves going forward will largely depend on what the management says in the conference call. Currently, the Zacks rating given is #3 (Hold), and it is expected that the future performance will be in line with the market.

The expected EPS for the next quarter is $0.59, with a full-year target of $2.34, and revenue is expected to be $1.7B. From an industry perspective, the internet software sector ranks in the top 26% according to Zacks, which is quite good. The peer Guidewire Software (GWRE) is also worth paying attention to, with an expected EPS of $0.66, a year-on-year rise of 53.5%.