Elastic (NYSE: ESTC) stock lost its bounce on Friday, following the company's second-quarter earnings report. The enterprise search and data security expert's shares were down 11% at 2:30 p.m. ET.

Elastic beat Q2 earnings expectations with $0.64 per share versus the expected $0.58, yet the stock fell 16.2%. The recent 43-day government shutdown delayed several expected contracts. At 4.8 times ...