Elastic NV slides after wider Q2 loss

Elastic

02/12/2021 19:14

** U.S.-listed shares of Netherlands-based IT firm  ESTC.N 
fall as much as 19.2% to $112.47, their lowest since May 20
    ** Stock on course for its biggest daily fall in nearly 2
years; set for third straight session of declines
    ** ESTC reports Q2 loss of $47 mln, or 51 cents per share,
compared to a loss of $29.2 mln, or 34 cents per share, a year
earlier  urn:newsml:reuters.com:*:nBw9Q42dBa
    ** However, co's adj. loss was smaller than estimates and
revenue tops expectations
    ** At least 3 brokerages cut their PTs on ESTC to between
$180 and $195 after results; median PT is $183.50
    ** Jefferies says the slowdown in Q2 is transitory adding
that fundamentals are still strong
    ** ESTC shares have fallen ~21% YTD

 (Reporting by Deborah Sophia in Bengaluru)
 ((DeborahMary.Sophia@thomsonreuters.com;))