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Elastic N.V.

Company NameElastic N.V.
Stock SymbolESTC

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.

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