Atlassian Corporation (TEAM) , a leading provider of collaboration and productivity software, is set to report third-quarter fiscal 2024 results on Apr 25.Atlassian has a history of delivering solid financial performance and consistent revenue growth. The company's focus on providing innovative solutions has driven its success. With a proven track record of execution, TEAM has earned the trust of its customers.Factors at PlayAtlassian has exhibited impressive growth momentum, driven by robust demand for its ...

An analyst upgrade gave the software stock a boost.Shares of the collaboration-focused software company Atlassian (TEAM 4.84%) were moving higher on an analyst rating upgrade this morning and broader tailwinds in the tech sector, as a weaker-than-expected producer price index reading cooled inflationary fears after the hot CPI report on Wednesday.As a result, the stock finished Thursday's session up 4.8%. This cloud has a silver liningBarclays raised its rating on Atlassian from equal weight to overweight, ...

Core Viewpoint - Atlassian's stock has recently been trending due to changes in earnings estimates and market performance, with a current Zacks Rank of 4 (Sell) indicating potential underperformance in the near term [1][9]. Earnings Estimate Revisions - Atlassian is expected to report earnings of $0.61 per share for the current quarter, reflecting a year-over-year increase of +13%, with a recent consensus estimate change of +3.6% [2]. - For the current fiscal year, the consensus earnings estimate is $2.57, indicating a +33.9% change from the previous year, with a +1.4% change over the last 30 days [3]. - The next fiscal year's consensus earnings estimate is $3.11, showing a +21.3% change from the prior year, with a +0.3% change in the last month [3]. Projected Revenue Growth - The consensus sales estimate for the current quarter is $1.1 billion, representing a year-over-year increase of +19.7% [4]. - For the current fiscal year, the revenue estimate is $4.23 billion, indicating a +19.8% change, while the next fiscal year's estimate is $5.07 billion, reflecting a +19.7% change [4]. Last Reported Results and Surprise History - In the last reported quarter, Atlassian generated revenues of $1.06 billion, a +21.5% year-over-year increase, and an EPS of $0.73 compared to $0.45 a year ago [5]. - The reported revenues exceeded the Zacks Consensus Estimate of $1.02 billion by +4.03%, and the EPS surprise was +17.74% [5][6]. - The company has consistently beaten consensus EPS and revenue estimates over the last four quarters [6]. Valuation - Atlassian's valuation metrics, including price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), are essential for assessing whether the stock is fairly valued [7]. - The Zacks Value Style Score indicates that Atlassian is graded F, suggesting it is trading at a premium compared to its peers [8].

Core Insights - Atlassian has a strong track record of beating earnings estimates, with an average surprise of 20.19% over the last two quarters [1] - The company reported earnings of $0.73 per share for the last quarter, exceeding the Zacks Consensus Estimate of $0.62 per share by 17.74% [1] - The positive trend in earnings estimates for Atlassian is supported by its Earnings ESP of +4.31%, indicating bullish sentiment among analysts [3] Earnings Performance - In the previous quarter, Atlassian's earnings were $0.65 per share against an expected $0.53, resulting in a surprise of 22.64% [1] - The combination of a positive Earnings ESP and a Zacks Rank of 3 (Hold) suggests a high probability of future earnings beats, with nearly 70% success rate for stocks with this profile [2] Earnings ESP Analysis - The Earnings ESP metric compares the Most Accurate Estimate to the Zacks Consensus Estimate, reflecting the latest analyst revisions [3] - A positive Earnings ESP indicates that analysts are optimistic about the company's earnings prospects, which could lead to another earnings beat [3] - The next earnings report for Atlassian is anticipated to be released on April 25, 2024 [3]

Atlassian Corporation (NASDAQ:TEAM) Morgan Stanley Technology, Media & Telecom Conference March 7, 2024 12:30 PM ET Company Participants Anu Bharadwaj - President Conference Call Participants Keith Weiss - Morgan Stanley Keith Weiss Good morning. Thank you, everyone for joining us. My name is Keith Weiss. I run the US software research franchise here at Morgan Stanley. And very pleased to have with us, this morning from Atlassian, President, Anu Bharadwaj. Anu, thank you for joining us again at the Morgan S ...

The Nasdaq Composite soared 43% last year as recession fears diminished and investors piled into artificial intelligence (AI) stocks. That momentum has spilled into 2024, with the index advancing another 5% year to date. However, Morgan Stanley analysts led by Keith Weiss still see substantial upside in certain Nasdaq stocks.For instance, the analyst team has given Atlassian (TEAM -0.33%) a bull-case price target of $441 per share, implying a 113% upside over the next year. Investors should never anchor the ...

NEW YORK, Feb. 21, 2024 /PRNewswire/ -- ActionIQ, the leading Composable Customer Data Platform (CDP), announced today it has been named a Visionary on the inaugural Gartner® Magic Quadrant™ for CDPs, identifying those solutions that help connect a brands' customer data with personalized experiences. Gartner recognized ActionIQ on its ability to execute and completeness of vision. "Being recognized as a Visionary in this inaugural Magic Quadrant by Gartner is, we feel, a significant validation of our strate ...

Core Viewpoint - Artificial intelligence (AI) is projected to significantly impact the global economy, with estimates suggesting it could add between $7 trillion and $200 trillion by 2030, leading technology companies, including Atlassian, to integrate AI into their platforms to enhance productivity and capture market opportunities [1][8] Company Overview - Atlassian has a 20-year history of providing collaborative software solutions, primarily through its flagship products, Jira and Confluence, which are now enhanced with AI capabilities [1][2] - The company has embedded Atlassian Intelligence into its platforms, allowing for features such as content drafting, text summarization, and advanced search functionalities [2][3] Recent Developments - In the fiscal 2024 second quarter, Atlassian Intelligence was made available to 302,000 customers after moving out of beta [3] - Atlassian acquired Loom to enhance its platforms, enabling video messaging capabilities that complement its existing tools [3][4] Financial Performance - Atlassian achieved over $1 billion in revenue for the first time in its history during the fiscal 2024 second quarter, marking a 21.5% year-over-year growth [5] - The company managed to limit its operating expense growth to 12.1%, resulting in a reduced net loss of $84 million, down 58.8% from the previous year [5][6] Growth Strategy - The company is currently trading at a 54% discount from its all-time high, presenting a potential buying opportunity for long-term investors [7] - Atlassian is expected to find new monetization strategies for its AI features, similar to how Microsoft has increased pricing for its productivity software with AI integrations [8]

Key PointsAtlassian shares have been rallying since the end of 2022, but last week's report threatens that. While revenue and profit hit an all-time high, the company's outlook scared investors.All things considered, though, it's looking like the dip might be an overreaction and that the upside potential remains intact. 5 stocks we like better than AtlassianWhile the S&P 500 index was notching a fresh record last week, shares of software giant Atlassian Corporation NASDAQ: TEAM were reeling from a 15% drop. ...

It’s earnings season and many of the top technology companies in the world are either about to deliver their quarterly numbers or already have. For Atlassian (NASDAQ:TEAM) investors, it has been a rather rough 24 hours. The company released its second-quarter report yesterday. Now, shares of TEAM stock are down 14% as investors digest the numbers. Notably, the software licensing company did report revenue and earnings which beat expectations, driven by strong subscription revenue during the quarter. However ...