These Analysts Slash Their Forecasts On Elastic After Q1 Results
Portfolio Pulse from Avi Kapoor
Elastic N.V. (NYSE:ESTC) reported strong Q1 earnings, beating estimates, but issued lower-than-expected Q2 revenue guidance. Analysts downgraded the stock and reduced price targets due to concerns over revenue impact from customer segmentation changes.
August 30, 2024 | 1:07 pm
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Elastic reported strong Q1 earnings, beating estimates, but issued lower-than-expected Q2 revenue guidance. Analysts downgraded the stock and reduced price targets due to concerns over revenue impact from customer segmentation changes.
Despite strong Q1 results, Elastic's lower Q2 guidance and analyst downgrades indicate potential short-term pressure on the stock. The downgrades and reduced price targets reflect concerns over revenue impact from customer segmentation changes.
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