Atlassian (TEAM) Scheduled to Post Earnings on Thursday

Atlassian (NASDAQ:TEAM) will be posting its quarterly earnings results after the market closes on Thursday, April 25th. Analysts expect Atlassian to post earnings of $0.61 per share for the quarter. Atlassian has set its Q3 2024 guidance at EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. On average, analysts expect Atlassian to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Atlassian Trading Up 0.1 %

TEAM stock opened at $195.07 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07. The company has a fifty day moving average price of $203.04 and a two-hundred day moving average price of $206.74. Atlassian has a one year low of $128.02 and a one year high of $258.69. The stock has a market cap of $50.60 billion, a price-to-earnings ratio of -130.92 and a beta of 0.63.

Insider Activity at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $197.46, for a total transaction of $1,627,267.86. Following the completion of the transaction, the chief executive officer now owns 424,137 shares of the company’s stock, valued at $83,750,092.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Atlassian news, CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $197.46, for a total transaction of $1,627,267.86. Following the completion of the transaction, the chief executive officer now owns 424,137 shares of the company’s stock, valued at $83,750,092.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Anutthara Bharadwaj sold 2,470 shares of the business’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $240.55, for a total value of $594,158.50. Following the transaction, the president now directly owns 171,674 shares of the company’s stock, valued at approximately $41,296,180.70. The disclosure for this sale can be found here. Insiders sold a total of 293,159 shares of company stock valued at $61,684,688 over the last quarter. 40.48% of the stock is owned by corporate insiders.

Institutional Trading of Atlassian

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. grew its holdings in shares of Atlassian by 47.9% during the fourth quarter. Advisors Asset Management Inc. now owns 1,207 shares of the technology company’s stock worth $155,000 after purchasing an additional 391 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Atlassian by 22.8% during the second quarter. IFP Advisors Inc now owns 808 shares of the technology company’s stock worth $136,000 after purchasing an additional 150 shares during the last quarter. Penserra Capital Management LLC grew its holdings in shares of Atlassian by 50.0% during the first quarter. Penserra Capital Management LLC now owns 342 shares of the technology company’s stock worth $100,000 after purchasing an additional 114 shares during the last quarter. Sunbelt Securities Inc. bought a new stake in shares of Atlassian during the first quarter worth about $98,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in Atlassian by 22.8% in the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 561 shares of the technology company’s stock valued at $87,000 after acquiring an additional 104 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Truist Financial lifted their price objective on shares of Atlassian from $180.00 to $220.00 and gave the stock a “hold” rating in a research report on Tuesday, January 16th. The Goldman Sachs Group lifted their target price on Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. StockNews.com downgraded Atlassian from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Barclays raised Atlassian from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $235.00 to $275.00 in a report on Thursday, April 11th. Finally, Wells Fargo & Company lifted their target price on Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $224.25.

Atlassian Company Profile

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.