Atlassian (TEAM) Scheduled to Post Earnings on Thursday

Atlassian (NASDAQ:TEAM) is scheduled to release its earnings data 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.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

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

Atlassian Stock Performance

NASDAQ:TEAM opened at $195.07 on Thursday. The business has a 50 day moving average of $203.04 and a 200 day moving average of $206.74. The company has a market capitalization of $50.60 billion, a price-to-earnings ratio of -130.92 and a beta of 0.63. Atlassian has a 1-year low of $128.02 and a 1-year high of $258.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $197.46, for a total value of $1,627,267.86. Following the sale, the chief executive officer now directly owns 424,137 shares of the company’s stock, valued at $83,750,092.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Atlassian news, President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $201.05, for a total value of $305,596.00. Following the sale, the president now directly owns 163,370 shares of the company’s stock, valued at $32,845,538.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $197.46, for a total value of $1,627,267.86. Following the completion of the sale, the chief executive officer now directly owns 424,137 shares in the company, valued at $83,750,092.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 293,159 shares of company stock valued at $61,684,688. 40.48% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Harbour Investments Inc. lifted its holdings in shares of Atlassian by 148.8% during the fourth quarter. Harbour Investments Inc. now owns 199 shares of the technology company’s stock valued at $47,000 after purchasing an additional 119 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Atlassian during the fourth quarter valued at $464,000. Public Employees Retirement System of Ohio lifted its holdings in shares of Atlassian by 4.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 137,957 shares of the technology company’s stock valued at $32,814,000 after purchasing an additional 5,474 shares in the last quarter. Systematic Portfolios LLC bought a new position in Atlassian in the fourth quarter valued at about $267,000. Finally, Legal & General Group Plc lifted its holdings in Atlassian by 29.7% in the fourth quarter. Legal & General Group Plc now owns 1,282,188 shares of the technology company’s stock valued at $304,981,000 after acquiring an additional 293,793 shares during the period. 93.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Mizuho lowered their price objective on Atlassian from $265.00 to $240.00 and set a “buy” rating for the company in a research report on Monday. The Goldman Sachs Group boosted their target price on Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Barclays raised Atlassian from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $235.00 to $275.00 in a research note on Thursday, April 11th. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Finally, Truist Financial boosted their target price on Atlassian from $180.00 to $220.00 and gave the company a “hold” rating in a research note on Tuesday, January 16th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $224.25.

About Atlassian

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.