Elastic N.V. (NYSE: ESTC)

This investigation is for anyone who acquired securities in Elastic N.V. (NYSE: ESTC) prior to August 29, 2024.

The Law Offices of Howard G. Smith believes that the Company and certain of its executives violated federal law. Specifically, the Law Offices of Howard G. Smith believes that the Company misled investors regarding its financial condition. More specifically, the Law Offices of Howard G. Smith believes that the Company misled investors by failing to timely update guidance.

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, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Elastic N.V. (NYSE: ESTC) prior to August 29, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.