Here is why Atlassian Corporation Plc (TEAM) stock went up in the after-hours on Thursday?

0
381
PTR Stock
PTR Stock

Atlassian Corporation Plc (TEAM) Stock rose 8.27% in after-hours on Thursday, October 28, 2021, and closed the daily trading at $451.85. Even in the regular trading session, TEAM’s stock gained 1.08%. TEAM shares have risen 99.81% over the last 12 months, and they have moved up 0.05% in the past week. Over the past three months, the stock has gained 28.36%, while over the past six months, it has jumped 75.67%.

Let’s have a look at its recent developments.


Top 5 Cheap Stocks to Own Right Now

While finding safe stocks with the potential for monster gains isn't always easy, we've found a few that could pay out well. In fact, within our report, "Top 5 Cheap Stock to Own Right Now", we have identified five stocks we believe could appreciate the most even if you just have $1,000 to invest.

Sign up here to get your free report now.

Sponsored


>> 7 Top Picks for the Post-Pandemic Economy << 

TEAM Stock latest financial results announcement

On October 28, 2021, Atlassian Corporation Plc (TEAM), announced financial results for its first quarter of the fiscal year 2022 ended September 30, 2021.

Read More

Q1 2022 financial highlights

  • TEAM reported revenue of $614.0 million for the first quarter of the fiscal year 2022 compared to $459.5 million for the first quarter of the fiscal year 2021.
  • Operating income was $39.6 million in Q1 2022, compared with an operating income of $11.9 million in Q1 2021.
  • it suffered a net loss of 400.1 million for the first quarter of the fiscal year 2022, compared with a net loss of $21.6 million for the first quarter of the fiscal year 2021.
  • Net loss per diluted share was $1.59 for Q1 2022, compared with a net loss per diluted share of $0.09 for Q1 2021.
  • As of September 30, 2021, the company had cash and cash equivalents, and short-term investments of $1.6 billion.

Q2 2022 financial guidance

For Q2 2022, the company is expecting

  • Total revenue to be in the range of $630 million to $645 million.
  • The gross margin is expected to be approximately 82% on an IFRS basis.
  • The operating margin is expected to be in the range of 15% to 14% on an IFRS basis.
  • Net loss per diluted share is expected to be in the range of $0.42 to $0.39 on an IFRS basis.

TEAM Stock new appointment

On September 09, 2021, Atlassian Corporation Plc (TEAM) appointed Michelle Zatlyn to its board of directors. Michelle is the co-Founder, COO, and President of Cloudflare, Inc. (NET).

TEAM Stock Recognition

On September 07, 2021, Atlassian Corporation Plc (TEAM), named a Visionary in the 2021 Gartner Magic Quadrant™ for IT Service Management Tools. Its Jira Service Management solution focuses on the convergence of digital experiences for development, operational and business teams, catapulting it to the fastest-growing ITSM product by new customer count in 2020.

>> 7 Top Picks for the Post-Pandemic Economy << 

Conclusion

The recent improved Q1 2022 financial results were the reason behind its after-market gains on Thursday. we can expect it to continue its positive performance on Friday as well.

LEAVE A REPLY

Please enter your comment!
Please enter your name here