Elastic (ESTC) stock has been hammered recently, but its oversold condition and positive earnings revisions suggest a potential turnaround. The stock’s low RSI reading and upgraded earnings estimates indicate that a rebound may be on the horizon.
Results for: Elastic
Elastic N.V. (ESTC) exceeded earnings expectations in the first quarter but issued a weaker-than-expected revenue forecast for the second quarter. While the company reported strong adoption of its generative AI offerings, segmentation changes are impacting customer commitments and slowing revenue growth. Despite the revised forecast, analysts downgraded the stock, and shares closed slightly higher.
Elastic N.V. (ESTC) exceeded analysts’ expectations for both earnings and revenue in the first quarter. However, the company’s revenue growth slowed due to segmentation changes, causing its stock price to drop significantly after hours.