What's Going On With Atlassian (TEAM) Stock?
Portfolio Pulse from Henry Khederian
Atlassian Corp (NASDAQ:TEAM) shares are trading lower by 3.9% to $191.07, following strong performance last week. The company reported Q4 earnings of 57 cents per share, exceeding the analyst consensus estimate of 43 cents, a 111% increase YoY. Quarterly sales were $939.10 million, surpassing the analyst consensus estimate of $911.23 million by 3%, a 24% increase YoY. The company's co-founders and co-CEOs expressed confidence in their strategy and highlighted strong momentum in cloud migrations, enterprise sales, and the ITSM market.
August 07, 2023 | 2:45 pm
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Atlassian Corp's shares are trading lower despite strong Q4 results. The company reported a 111% YoY increase in earnings and a 24% YoY increase in sales, surpassing analyst estimates.
Despite reporting strong Q4 results with earnings and sales surpassing analyst estimates, Atlassian Corp's shares are trading lower. This could be due to market volatility or investor sentiment not fully reflecting the company's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100