Why Atlassian Stock Plunged to 52-Week Lows Today
Atlassian (TEAM) The Motley Fool·2024-08-03 00:16
Growth is slowing and AI expenses have gone up.Shares of enterprise software company Atlassian (TEAM -17.39%) 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.Here are some of the problemsFor 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. ...