Atlassian (NASDAQ:TEAM) Updates Q2 Earnings Guidance

Atlassian (NASDAQ:TEAM) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.27 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.26. The company issued revenue guidance of $386-$390 million, compared to the consensus revenue estimate of $381.53 million.Atlassian also updated its FY 2020 guidance to $0.01-0.01 EPS.

Several brokerages have recently weighed in on TEAM. KeyCorp boosted their target price on Atlassian from $142.00 to $150.00 and gave the stock an overweight rating in a report on Friday, July 26th. SunTrust Banks began coverage on Atlassian in a report on Wednesday, October 2nd. They set a buy rating and a $162.00 target price on the stock. Robert W. Baird boosted their target price on Atlassian from $120.00 to $150.00 and gave the stock an outperform rating in a report on Friday, July 26th. DA Davidson boosted their target price on Atlassian to $155.00 and gave the stock a buy rating in a report on Friday, July 26th. Finally, TheStreet cut Atlassian from a c- rating to a d rating in a report on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Atlassian has an average rating of Buy and a consensus price target of $139.75.

Shares of Atlassian stock traded down $2.84 on Thursday, hitting $121.45. 1,396,436 shares of the company were exchanged, compared to its average volume of 1,598,818. The stock has a market capitalization of $14.87 billion, a price-to-earnings ratio of -714.38, a price-to-earnings-growth ratio of 92.40 and a beta of 1.31. The company has a 50-day moving average price of $129.59 and a 200 day moving average price of $128.39. Atlassian has a 1-year low of $65.17 and a 1-year high of $149.80.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, July 25th. The technology company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.26. The firm had revenue of $334.59 million for the quarter, compared to analyst estimates of $330.60 million. Atlassian had a negative net margin of 52.69% and a negative return on equity of 2.45%. The business’s revenue for the quarter was up 35.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.14 EPS. As a group, sell-side analysts predict that Atlassian will post 0.09 earnings per share for the current fiscal year.

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 and Estimates for Atlassian (NASDAQ:TEAM)

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