Atlassian (TEAM) Announces Earnings Results, Misses Expectations By $0.26 EPS

Atlassian (NASDAQ:TEAM) posted its earnings results on Wednesday. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.26), Morningstar.com reports. Atlassian had a positive return on equity of 3.01% and a negative net margin of 22.96%. The business had revenue of $309.30 million for the quarter, compared to the consensus estimate of $304.68 million. During the same period in the previous year, the company posted $0.10 earnings per share. Atlassian’s revenue for the quarter was up 37.9% compared to the same quarter last year.

Shares of NASDAQ:TEAM traded down $8.48 during midday trading on Thursday, hitting $102.71. The stock had a trading volume of 90,577 shares, compared to its average volume of 1,667,368. Atlassian has a 12 month low of $54.54 and a 12 month high of $117.06. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $12.02 billion, a PE ratio of -1,464.29, a P/E/G ratio of 109.39 and a beta of 1.85.

TEAM has been the subject of several research reports. Mizuho raised their price target on shares of Atlassian from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Robert W. Baird raised their price target on shares of Atlassian from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Zacks Investment Research cut shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Wednesday. Canaccord Genuity raised their price target on shares of Atlassian from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. They noted that the move was a valuation call. Finally, BMO Capital Markets raised their price target on shares of Atlassian from $100.00 to $110.00 and gave the stock a “market perform” rating in a research note on Thursday. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $114.71.

Large investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC bought a new position in shares of Atlassian in the fourth quarter valued at $25,000. Cornerstone Advisors Inc. bought a new position in shares of Atlassian in the fourth quarter valued at $29,000. Meeder Asset Management Inc. bought a new position in shares of Atlassian in the fourth quarter valued at $50,000. Financial Architects Inc grew its stake in shares of Atlassian by 159.1% in the fourth quarter. Financial Architects Inc now owns 570 shares of the technology company’s stock valued at $51,000 after buying an additional 350 shares in the last quarter. Finally, WealthTrust Arizona LLC grew its stake in shares of Atlassian by 23.4% in the fourth quarter. WealthTrust Arizona LLC now owns 580 shares of the technology company’s stock valued at $52,000 after buying an additional 110 shares in the last quarter. 91.21% of the stock is owned by institutional investors and hedge funds.

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About Atlassian

Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. It provides project tracking, content creation and sharing, and service management products. The company's products include JIRA, a workflow management system that enables teams to plan, organize, track, and manage their work and projects; Confluence, a content collaboration platform that is used to create, share, organize, and discuss projects; and Trello, a Web-based project management application for capturing and adding structure to fluid, fast-forming work for teams.

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Earnings History for Atlassian (NASDAQ:TEAM)

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