Why Did Atlassian Stock Drop 12% in April
Atlassian (TEAM) The Motley Fool·2024-05-09 06:33
Growth concerns and a departing CEO were bad news for the software stock.Shares of Atlassian (TEAM -3.04%) fell 11.7% last month, according to data from S&P Global Market Intelligence. The stock dropped rapidly after its quarterly earnings report. Investors raised concerns about future growth potential, and the departure of a key executive contributed to the sentiment.Quarterly results looked good at first glanceAtlassian reported 30% revenue growth, with 41% expansion of subscription revenue. This translat ...