On June 3, Elastic N.V. fell 5.16% in regular trading, trading at $64.765/share, with trading volume of approximately $17.97 million.

On the news front, while the company's fiscal Q4 earnings beat expectations with non-GAAP EPS of $0.61 versus the consensus estimate of $0.56 and revenue of $451 million exceeding the $447 million forecast, its fiscal Q1 guidance disappointed the market. The company projected next-quarter EPS of -$0.09, signaling a shift from profitability to loss that continues to suppress investor sentiment. Despite a roughly 5% oversold bounce in the prior session, the negative impact of weak guidance has not been fully absorbed. Additionally, Wedbush lowered its price target from $74 to $65 while maintaining an Outperform rating.

The broader Application Software sector also weighed on shares, with Datadog down 8.04%, Palantir down 3.86%, and Salesforce down 3.68%, amplifying sector-wide selling pressure on individual names.

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