Atlassian (TEAM) Set to Announce 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 announced its earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.24). Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. The business 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 Price Performance

Shares of NASDAQ:TEAM opened at $199.44 on Wednesday. The business has a 50 day moving average price of $201.18 and a 200 day moving average price of $206.81. Atlassian has a twelve month low of $128.02 and a twelve month high of $258.69. The company has a market cap of $51.74 billion, a price-to-earnings ratio of -133.85 and a beta of 0.63. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04.

Analysts Set New Price Targets

A number of brokerages have commented on TEAM. StockNews.com downgraded Atlassian from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Wells Fargo & Company raised their price objective on Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Mizuho reduced 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, April 15th. Citigroup reduced their price objective on Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a research report on Friday, April 12th. Finally, UBS Group reduced their price objective on Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Atlassian presently has a consensus rating of “Hold” and a consensus target price of $224.25.

Insider Activity at Atlassian

In related news, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $253.53, for a total transaction of $2,089,340.73. Following the completion of the sale, the chief executive officer now directly owns 346,122 shares of the company’s stock, valued at approximately $87,752,310.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction on Monday, January 29th. The stock was sold at an average price of $253.53, for a total value of $2,089,340.73. Following the completion of the sale, the chief executive officer now directly owns 346,122 shares of the company’s stock, valued at approximately $87,752,310.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Anutthara Bharadwaj sold 4,139 shares of Atlassian stock in a transaction 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 completion of the sale, the president now directly owns 167,535 shares of the company’s stock, valued at $35,663,175.45. The disclosure for this sale can be found here. Insiders sold 299,690 shares of company stock valued at $61,962,072 in the last three months. Corporate insiders own 40.48% of the company’s stock.

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.