These Analysts Slash Their Forecasts On Elastic After Q1 Results
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Elastic N.V. reported strong Q1 earnings of 35 cents per share, exceeding estimates, but issued Q2 revenue guidance lower than expected. CEO Ash Kulkarni noted challenges related to segmentation changes affecting customer commitments and revenue. Analysts reacted by downgrading their price targets, with Baird's Shrenik Kothari and B of A Securities' Wamsi Mohan both moving from bullish to neutral on the stock. Elastic shares rose 0.6% to close at $64.
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