Why is atlassian stock down? Atlassian Corporation Plc (TEAM) shares fell 5% during Tuesday's session after failing to break through upper trendline resistance earlier this month. The move comes as the company increases prices for most of its products this month, including Jira, Confluence, and Bitbucket.
Why did Atlassian stock fall so much on Friday?
Atlassian ( NASDAQ: TEAM) shares fell sharply on Friday after several Wall Street analysts cut their price targets on the software development and collaboration company following its investor day on Thursday.
Is Atlassian (TEAM) stock down 60% over its high?
Atlassian (NASDAQ: TEAM) stock is down over 60% over its high. Atlassian is a software company based out of Sydney and San Francisco. It produces products that help software developers, project managers, and other software development-related teams.
Is Atlassian's problem really about growth?
Long story short, Atlassian's problem today appears to be less about the company's growth prospects (which seem impressive) and more about its failure to clearly communicate its message.
How much money does Atlassian really have?
And of course, with Atlassian doing barely $2.4 billion in business last year, this all implies a lot of growth ahead for the company. That being said, I'm honestly not sure how the company is working its math.
Is Atlassian stock a good buy?
Earnings are expected to grow 12.1% year-over-year for the current fiscal year, with sales growth of 29.9%. Three analysts revised their earnings estimate higher in the last 60 days for fiscal 2022, while the Zacks Consensus Estimate has increased $0.01 to $1.57 per share.
Is Atlassian a buy right now?
There are currently 5 hold ratings and 10 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" Atlassian stock. View analyst ratings for Atlassian or view top-rated stocks.
Is Atlassian stock overvalued?
Overall, Atlassian stock is undeniably overvalued, even when considering the business' strong revenue growth rate, making TEAM's risk of dropping further in price over the next few years fairly high.
Does Atlassian pay dividend?
Atlassian (NASDAQ: TEAM) does not pay a dividend.
Is Atlassian undervalued?
Since TEAM is currently undervalued, it may be a great time to increase your holdings in the stock. With a positive outlook on the horizon, it seems like this growth has not yet been fully factored into the share price.
What does the company Atlassian do?
Atlassian Corporation Plc (/ətˈlæsiən/) is an Australian software company that develops products for software developers, project managers and other software development teams. The company is domiciled in the UK, with global headquarters in Sydney, Australia, and US headquarters in San Francisco.
Is TEAM a buy or sell?
Out of 13 analysts, 6 (46.15%) are recommending TEAM as a Strong Buy, 3 (23.08%) are recommending TEAM as a Buy, 4 (30.77%) are recommending TEAM as a Hold, 0 (0%) are recommending TEAM as a Sell, and 0 (0%) are recommending TEAM as a Strong Sell. What is TEAM's earnings growth forecast for 2022-2024?
What is Atlassian revenue?
2.1 billion USD (2021)Atlassian / Revenue
Who is Atlassian's auditor?
Ernst & Young LLPWho are Atlassian's independent auditors? The company's external auditors are Ernst & Young LLP.
What is atlassian ASX code?
Unfortunately for Australian investors Sydney-based Atlassian is not listed on the S&P/ ASX200 (ASX: XJO) as it trades under the ticker TEAM on the tech-heavy NASDAQ index in the US.
The project management software company from Down Under crushed Wall Street's estimates in the first quarter
Anders Bylund is a Foolish Technology and Entertainment Specialist. Where the two markets intersect, you'll find his wheelhouse. He has been an official Fool since 2006 but a jester all his life.
What happened
Shares of Atlassian ( NASDAQ:TEAM) is having a "bonzer" (Australian for "good") day on the market today. Share prices rose as much as 15.8% before backing down to a milder gain of 7.6% as of 11:45 a.m., EDT. A fantastic first-quarter earnings report triggered the Australia-based software company's big jump.
So what
In the first quarter of fiscal year 2022, Atlassian's sales rose 34% year over year to land at $614 million. As a result, adjusted earnings jumped 53% higher to $0.46 per diluted share. Your average analyst would have settled for earnings of roughly $0.40 per share on revenue near $582 million. This was not a small surprise to the upside.
Now what
Atlassian's migration to a pure cloud-computing operating model is proceeding as planned, though management noted that the transition still has several years left to go.
