Elastic NV shares fall on lower-than-expected Q1, 2024 rev guidance

Elastic

02/06/2023 12:01

** U.S.-listed shares of search engine software co Elastic
NV  ESTC.N  falls 6.5% to $67.00 premarket
    ** Co expects to report Fiscal 2024 revenue between $1.238
billion and $1.250 billion with midpoint slightly below
estimates - Refinitiv data
    ** However, co sees fiscal 2024 adj EPS between $0.94 and
$1.06 above estimates of $0.93
    ** Sees Q1 fiscal 2024 total revenue to be between $283 mln
and $286 mln, with midpoint of $284.5 mln slightly below
analysts' estimates of $284.88 mln 
    ** Forecasts Q1 adj EPS with midpoint in line with estimates
    ** Q4 fiscal 2023 revenue & adj EPS beat estimates
    ** 13 of 19 brokerages rate the stock "buy" or higher, 5
"hold" and 1 "sell"; their median PT is $75.00
    ** Up to last close, U.S.-listed shares had risen 39.15% YTD
    

 (Reporting by Ashwini Raj in Bengaluru)
 ((Ashwini.Raj@thomsonreuters.com))