Atlassian Corporation (TEAM) PT Lowered to $180 at Piper Sandler

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Atlassian (TEAM) plunges despite earnings, revenue beat

November 3, 2023 8:03 AM EDT

Atlassian (NASDAQ: TEAM) shares plunged on Friday despite the company reporting earnings for its latest quarter that topped consensus expectations.

The company posted Q1 EPS of $0.65, $0.11 better than the analyst estimate of $0.54, while revenue for the quarter came in at $978 million, up 21% YoY and above the consensus estimate of $965.7 million.

The company's quarterly subscription revenue of $852 million rose by 31% year-over-year.

Despite the top... More