Investor Alert: Kaplan Fox Investigates Elastic N.V.
NEW YORK, Dec. 9, 2019 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) has been investigating claims on behalf of investors who purchased shares of Elastic N.V. ("Elastic or the "Company") (NYSE: ESTC), a data analytics provider.
On December 4, 2019, after the market closed, Elastic issued a press release reporting its financial results for the second fiscal quarter of 2020, the quarter ended October 31, 2019 The Company unexpectedly reported soft billings growth of 41% year-over-year, or 45% on a constant currency basis. This compares to billings growth of 51% year-over-year in the prior quarter, or 53% on a constant currency basis.
Also on December 4, 2019, during the Company's conference call to discuss its second quarter results, Elastic's CFO said that the Company had experienced "some delays in our federal government business, as some deals moved out of the month of October." Additionally, the Company's CEO did not quantify the magnitude of the deals pushed out of the quarter, but said "it was significant enough that it impacted billings."
Following the news, Elastic's shares fell $13.98 per share, nearly 19%, to close at $64.22 per share on December 5, 2019.
If you purchased Elastic's common stock and would like to discuss our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling 800-290-1952.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about your rights or interests, please contact:
Frederic S. Fox
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: ffox@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California 94104
(415) 772-4700
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
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SOURCE Kaplan Fox & Kilsheimer LLP
