TEAM Stock Recent News

Atlassian continues to grow despite tough economic conditions, particularly with its cloud-based revenue. Management expects to more than double its revenue over the next five years as its addressable opportunity keeps growing.

While 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. The driver behind the plunge, coming after an almost eighteen-month rally, was the company's fiscal Q2 results, released on Thursday evening.

Atlassian Corporation (TEAM) Q2 2024 Earnings Call Transcript

With the latest wave of “AI mania” in full swing since November, you may not think that now is a time to be thinking about which AI stocks to sell, rather than which AI stocks to buy. But while adoption of generative AI and other artificial intelligence technology is rising rapidly, suggesting a trend not anywhere close to slowing down, don't assume that the current bubble among AI stocks is built on solid ground.

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Atlassian thinks it can hit $10 billion in annual sales. The company's product suite and customer-acquisition strategy are key to its revenue gains.

LYFT continues to struggle, as evidenced by the 24.2% year-to-date decline in its shares.

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Atlassian today announced the launch of Atlassian Intelligence, the company's AI-driven ‘virtual teammate' that leverages the company's own models in conjunction with OpenAI's large language models to create custom teamwork graphs and enable features like AI-generated summaries Confluence and test plans in Jira Software, or rewriting responses to customers in Jira Service Management.

Higher-than-expected results from January's personal consumption index report sapped the values of growth software stocks again.