Atlassian Corp. PLC (TEAM) stock enjoying a sharp rally, here’s why

Atlassian Corp. PLC (TEAM), an Australian software company, is seeing a positive movement within its share price. On Thursday, the TEAM stock changed hands at $266.79, a gain of about 0.85%. In the current session, the share price is gaining further, with an increase of 22%. The TEAM stock currently stands at $325.12.

Q4 results

Recent events have shown an excellent trend as far as the performance of TEAM stock is concerned. On Thursday, the company announced its fourth-quarter results of 2021. According to the results, the company had reported earnings of $0.24 per share. The company posted revenue of $559.54 million in this quarter, and hence, the company’s total revenue in fiscal year stood at more than $2 billion. As a result of that news, the company’s share price got soared.


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Q3 results

On the 3rd of May, the company’s share soared some 4.1%. The reason for that rise was the release of third quarterly results, which depicted revenue of $568.7 million posted by the company. Overall, these quarterly results provided a much-needed boost to the TEAM stock.

Innovation

In late April, the company unveiled new and innovative products and tools. The company announced that at their customer event “Team’21”. These included Halp, Compass, Team central, open DevOp’s besides others. All of these tools were meant to provide digital creators and developers with the ultimate digital experience.

Impact of COVID

As far as the effect of the COVID pandemic on the business of a company is concerned, the digital origins of business kept it safe from the intense effects of the pandemic on the business sector. A comprehensive business continuity plan was put in place by the company to make sure that business remained unhindered during the course of pandemics.

What future holds in store?

As far as the future trend of TEAM stock is concerned, analysts are predicting it to increase quarter-over-quarter earnings by 196%. The earnings of the company during the current year are expected to grow by 46%. So, potential investors within TEAM stock should keep a close watch on the market situation.

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