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Why Atlassian Stock Plunged to 52-Week Lows Today

TheMotleyFool 
0 0 02.08.24
Why Atlassian Stock Plunged to 52-Week Lows Today: https://g.foolcdn.com/editorial/images/785719/frustrated-investor-rubs-head-looks-at-computer.jpg
 

Shares of enterprise software company (NASDAQ: TEAM) plunged on Friday after the company reported financial results for its fiscal fourth quarter of 2024, ended June 30. As of 11:30 a.m. ET, Atlassian stock was down 16% and had hit new 52-week lows.

For Atlassian, investors are concerned about both the Q4 numbers and the financial guidance for its fiscal 2025. Management had guided for Q4 revenue of $1.135 billion at most. It wound up generating revenue of $1.132 billion, which was inside of its guidance. But its growth did come at a cost.

Enterprises are demanding more capabilities powered by artificial intelligence (AI) than ever before. Atlassian can provide those but there's a cost to developing relevant offerings. In Q4, the company's revenue was up 20% year over year. But research and development expenses were up 24%, driven by investments in AI.

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Source Fool.com

Atlassian Corp. Stock

€130.48
-0.910%
The price for the Atlassian Corp. stock decreased slightly today. Compared to yesterday there is a change of -€1.200 (-0.910%).

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