Atlassian (NASDAQ:TEAM – Get Rating) issued its earnings results on Thursday. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.26 by $0.01, Briefing.com reports. The company had revenue of $759.80 million during the quarter, compared to analysts’ expectations of $724.28 million. Atlassian had a negative net margin of 27.73% and a negative return on equity of 56.13%. The business’s revenue for the quarter was up 35.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) EPS. Atlassian updated its Q1 2023 guidance to $0.37-$0.38 EPS and its Q1 guidance to $0.37-0.38 EPS.
Atlassian Stock Up 16.6 %
Shares of Atlassian stock traded up $38.18 during trading hours on Friday, reaching $268.59. 6,813,228 shares of the company’s stock were exchanged, compared to its average volume of 2,096,803. Atlassian has a fifty-two week low of $159.54 and a fifty-two week high of $483.13. The stock has a market cap of $36.88 billion, a P/E ratio of -93.59 and a beta of 1.01. The company has a 50 day moving average of $196.85 and a two-hundred day moving average of $242.29. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 3.30.
Institutional Investors Weigh In On Atlassian
Several hedge funds have recently bought and sold shares of the company. Durable Capital Partners LP acquired a new stake in Atlassian in the 1st quarter valued at about $434,144,000. Dimensional Fund Advisors LP lifted its position in Atlassian by 29.9% during the first quarter. Dimensional Fund Advisors LP now owns 201,552 shares of the technology company’s stock worth $59,233,000 after acquiring an additional 46,418 shares during the last quarter. Baird Financial Group Inc. lifted its position in Atlassian by 7.9% during the first quarter. Baird Financial Group Inc. now owns 115,967 shares of the technology company’s stock worth $34,075,000 after acquiring an additional 8,491 shares during the last quarter. Wellington Management Group LLP lifted its position in Atlassian by 18.6% during the first quarter. Wellington Management Group LLP now owns 97,388 shares of the technology company’s stock worth $28,616,000 after acquiring an additional 15,304 shares during the last quarter. Finally, Polar Capital Holdings Plc lifted its position in Atlassian by 292.3% during the first quarter. Polar Capital Holdings Plc now owns 67,792 shares of the technology company’s stock worth $19,919,000 after acquiring an additional 50,512 shares during the last quarter. 91.33% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
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 providers, including IT, legal, and HR teams; Jira Align for enterprise agile planning; Opsgenie, an incident management tool that centralizes alerts and notifies right people at right time; and Statuspage for incident communication.
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