Atlassian (TEAM) to Release Quarterly Earnings on Thursday

Atlassian (NASDAQ:TEAM) is scheduled to issue its quarterly earnings data after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $0.61 per share for the quarter. Atlassian has set its Q3 2024 guidance at EPS.Parties interested in listening to the company’s 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 $194.27 on Tuesday. The business has a 50 day moving average of $201.39 and a 200 day moving average of $206.80. The company has a market capitalization of $50.40 billion, a price-to-earnings ratio of -130.38 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.

Analyst Ratings Changes

Several analysts have weighed in on the company. William Blair reiterated an “outperform” rating on shares of Atlassian in a research report on Friday, February 2nd. Wells Fargo & Company increased their target price on Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Mizuho lowered their price target on Atlassian from $265.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, April 15th. UBS Group lowered their target price on Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday, February 2nd. Finally, Truist Financial increased their target price on Atlassian from $180.00 to $220.00 and gave the company a “hold” rating in a report on Tuesday, January 16th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $224.25.

Insider Buying and Selling

In related news, CEO Michael Cannon-Brookes sold 8,241 shares of the stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $191.53, for a total transaction of $1,578,398.73. Following the completion of the sale, the chief executive officer now owns 391,173 shares in the company, valued at $74,921,364.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Atlassian news, CEO Michael Cannon-Brookes sold 8,241 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $191.53, for a total transaction of $1,578,398.73. Following the completion of the transaction, the chief executive officer now owns 391,173 shares in the company, valued at approximately $74,921,364.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Anutthara Bharadwaj sold 4,139 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total value of $881,068.93. Following the transaction, the president now owns 167,535 shares of the company’s stock, valued at approximately $35,663,175.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 299,690 shares of company stock worth $62,392,994. 40.48% of the stock is owned by corporate insiders.

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.