Atlassian (NASDAQ:TEAM) Releases Fourth Quarter 2022 Earnings Guidance


Atlassian(NASDAQ: TEAMGet a rating) updated its earnings guidance for the fourth quarter of 2022 on Monday. The company provided earnings per share (EPS) guidance of $0.24 to $0.24 for the period, compared to the consensus estimate. of $0.30. The company released a revenue forecast of $710.00 million to $725.00 million, compared to the consensus revenue estimate of $709.99 million.

A number of analysts have recently commented on the company. Wells Fargo & Company cut its price target on Atlassian from $425.00 to $400.00 and set an overweight rating for the company in a Friday, April 22 research report. KeyCorp cut its price target on Atlassian from $442.00 to $397.00 and set an overweight rating for the company in a Friday, April 8 research report. StockNews.com assumed coverage on Atlassian in a research report on Thursday, March 31. They set a holding rating for the company. Canaccord Genuity Group reduced its price target on Atlassian from $375.00 to $300.00 in a Friday, April 29 research report. Finally, BMO Capital Markets reduced its price target on Atlassian from $515.00 to $382.00 in a Friday, January 28 research report. One research analyst gave the stock a sell rating, seven issued a hold rating and eleven issued the company a buy rating. According to MarketBeat, the company currently has an average buy rating and consensus target price of $400.28.

Shares of Stock Atlassian opened at $183.35 on Tuesday. Atlassian has a 12-month low of $180.10 and a 12-month high of $483.13. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt ratio of 3.30. The stock has a 50-day moving average of $267.04 and a 200-day moving average of $326.90. The company has a market capitalization of $25.18 billion, a PE ratio of -63.89 and a beta of 1.07.

Atlassian(NASDAQ: TEAMGet a rating) last released its quarterly earnings data on Thursday, April 28. The technology company reported earnings per share (EPS) of $0.47 for the quarter, beating consensus analyst estimates of $0.32 by $0.15. Atlassian had a negative return on equity of 56.13% and a negative net margin of 27.73%. The company posted revenue of $740.49 million for the quarter, versus a consensus estimate of $703.87 million. In the same period a year earlier, the company posted earnings per share of $0.09. The company’s quarterly revenue increased by 30.2% compared to the same quarter last year. As a group, equity research analysts expect Atlassian to post -0.36 earnings per share for the current fiscal year.

A number of hedge funds have recently changed their holdings in TEAM. Morgan Stanley increased its position in Atlassian by 16.4% during the second quarter. Morgan Stanley now owns 355,071 shares of the technology company valued at $91,204,000 after purchasing an additional 50,123 shares during the period. Flagship Harbor Advisors LLC increased its holdings of Atlassian stock by 5.8% in the fourth quarter. Flagship Harbor Advisors LLC now owns 1,612 shares of the technology company worth $615,000 after buying 88 additional shares during the period. Marshall Wace LLP increased its holdings of Atlassian stock by 500.0% in the fourth quarter. Marshall Wace LLP now owns 18,000 shares of the technology company worth $6,863,000 after purchasing an additional 15,000 shares during the period. Insight Holdings Group LLC increased its holdings of Atlassian stock by 33.6% in the fourth quarter. Insight Holdings Group LLC now owns 33,400 shares of the technology company worth $12,735,000 after purchasing an additional 8,400 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in Atlassian shares by 11.1% in the fourth quarter. Advisors Asset Management Inc. now owns 1,677 shares of the technology company worth $639,000 after buying 167 additional shares during the period. Institutional investors and hedge funds hold 91.33% of the company’s shares.

Atlassian Company Profile (Get a rating)

Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses and maintains various software products worldwide. Its products include JIRA, a workflow management system for teams to plan, track, collaborate and manage work and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team vendors, including IT, legal, and HR teams; Jira Align for enterprise agile planning; Opsgenie, an incident management tool that centralizes alerts and notifies the right people at the right time; and Statuspage for incident communication.

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Earnings history and estimates for Atlassian (NASDAQ: TEAM)



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