BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Elastic N.V. (“Elastic” or the “Company”) (NYSE: ESTC) investors concerning the Company’s possible violations of federal securities laws.
On August 29, 2024, Elastic released its first quarter fiscal 2025 financial results and revised its annual revenue guidance to be between $1.436 billion and $1.444 billion, compared to a previous range of $1.468 billion and $1.48 billion and consensus estimates of $1.48 billion. The Company explained that the revision is due to “a slower start to the year with the volume of customer commitments impacted by segmentation changes that [the Company] made at the beginning of the year, which are taking longer than expected to settle.”
On this news, Elastic’s stock price fell $27.45, or 26.5%, to close at $76.19 per share on August 30, 2024, thereby injuring investors.
If you purchased Elastic securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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