Atlassian Corporation (NASDAQ:TEAM) shares traded -9.56% lower at $179.45 on Wall Street last session.
TEAM stock price is now -10.75% away from the 50-day moving average and -11.09% away from the 200-day moving average. The market capitalization of the company currently stands at $46.55B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target maintained at $275, Barclays recently Upgraded its rating from Equal Weight to Overweight for Atlassian Corporation (NASDAQ: TEAM). , while ‘CapitalOne’ rates the stock as ‘Equal Weight’
In other news, Cannon-Brookes Michael, Co-CEO, Co-Founder sold 8,241 shares of the company’s stock on Apr 25 ’24. The stock was sold for $1,627,835 at an average price of $197.53. Upon completion of the transaction, the Co-CEO, Co-Founder now directly owns 358,209 shares in the company, valued at $64.28 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 25 ’24, Co-CEO, Co-Founder Farquhar Scott sold 8,241 shares of the business’s stock. A total of $1,627,835 was realized by selling the stock at an average price of $197.53. This leaves the insider owning 358,209 shares of the company worth $64.28 million. A total of 40.12% of the company’s stock is owned by insiders.
During the past 12 months, Atlassian Corporation has had a low of $128.02 and a high of $258.69. As of last week, the company has a debt-to-equity ratio of 1.10, a current ratio of 1.18, and a quick ratio of 1.18.
According to the Software – Application Company, earnings per share came in at 0.57, beating analysts’ expectations of 0.45 by 0.12. This compares to -$0.80 EPS in the same period last year. The net profit margin was -3.90% and return on equity was -18.94% for TEAM. The company reported revenue of $1.06 billion for the quarter, compared to $872.7 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 21.47 percent. For the current quarter, analysts expect TEAM to generate $1.11B in revenue.
Atlassian Corporation(TEAM) Company Profile
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. The company also offers Jira Service Management, an intuitive and flexible service desk product for creating and managing service experiences for various service team providers, such as IT, legal, and HR teams; and Jira Align, an Atlassian’s enterprise agility solution designed to help businesses to adapt and respond dynamic business conditions with a focus on value-creation. In addition, it provides Bitbucket, an enterprise-ready Git solution that enables professional dev teams to manage, collaborate, and deploy quality code; Atlassian Access, an enterprise-wide product for enhanced security and centralized administration that works across every Atlassian cloud product; and Jira Product, a prioritization and road mapping tool. Further, the company’s portfolio includes Atlas, a teamwork directory; Bamboo, a continuous delivery pipeline; Crowd, a single sign-on; Crucible, a collaborative code review; Fisheye, a search, track, and visualize code change software; and Compass, a developer experience platform. Additionally, it offers Opsgenie, an on-call and alert management software; Sourcetree, a free git client for windows and mac; Statuspage that communicates real-time status to users; Beacon, an intelligent threat detection software; and Atlassian Access that enhance data security and governance for Atlassian Cloud products. The company was founded in 2002 and is headquartered in Sydney, Australia.
