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Atlassian (NASDAQ:TEAM) Board of Administrators have approved a buyback of $1B inventory.
The share repurchase program doesn’t have a set expiration date. The timing, method, value, and quantity of any repurchases can be decided by Atlassian (TEAM) at its discretion and can depend upon quite a lot of components, together with enterprise, financial and market situations, prevailing inventory costs, company and regulatory necessities, and different issues.
The corporate beat its high and backside line estimates on FQ2 outcomes and expects a FY 2023 topline progress of 25%.
The inventory is buying and selling 13% under final shut on Thursday.
SA warns that the inventory is at a excessive threat of performing badly attributable to decelerating momentum and is overpriced in comparison with different tech shares.
Will get a Promote Quant score versus promote facet analyst score of Purchase.
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