The Law Offices of Frank R. Cruz Announces Investigation of Elastic N.V. (ESTC) on Behalf of Investors

Business Wire 10-Sep-2024 3:47 PM

The Law Offices of Frank R. Cruz announces an investigation of Elastic N.V. ("Elastic" or the "Company") (NYSE:ESTC) on behalf of investors concerning the Company's possible violations of federal securities laws.

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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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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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

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