On May 29, Elastic N.V. declined 6.35% in regular trading, trading at approximately $57.80/share, with trading volume of $35.75 million. The selloff was triggered by weak forward guidance issued alongside the company's fiscal Q4 earnings release.

Elastic reported fiscal Q4 non-GAAP earnings of $0.61 per diluted share, surpassing the analyst consensus estimate of $0.56 by 8.93% and representing a 29.79% year-over-year increase from $0.47. Revenue came in at $450.7 million, also exceeding the expected $446.6 million. However, the company's guidance for the next quarter projected EPS of -$0.09, signaling a shift from profitability to loss. This profit-to-loss outlook sparked concerns over near-term growth deceleration and triggered profit-taking among bulls. Additionally, Wedbush lowered its price target on the stock from $74 to $65 while maintaining an outperform rating.

Elastic N.V. is a data analytics company that delivers the Elastic Stack, a suite of software products for search, analysis, and visualization, widely used in enterprise search, logging, security analytics, and observability across cloud and hybrid environments.

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