Atlassian (NASDAQ:TEAM) announced its quarterly earnings results on Thursday. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.32, MarketWatch Earnings reports. Atlassian had a positive return on equity of 2.00% and a negative net margin of 21.72%. The firm had revenue of $430.48 million for the quarter, compared to the consensus estimate of $408.86 million. Atlassian updated its Q1 2021
After-Hours guidance to 0.26-0.27 EPS and its Q1 guidance to $0.26-$0.27 EPS.
Shares of NASDAQ:TEAM traded down $11.01 on Friday, reaching $176.65. 6,941,018 shares of the company were exchanged, compared to its average volume of 1,726,050. Atlassian has a 1-year low of $107.00 and a 1-year high of $198.41. The company has a 50-day moving average of $181.83 and a 200-day moving average of $158.97. The firm has a market cap of $21.54 billion, a price-to-earnings ratio of 3,753.20, a price-to-earnings-growth ratio of 36.05 and a beta of 1.02.
Several equities analysts have weighed in on the stock. Mizuho lifted their price target on shares of Atlassian from $175.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. ValuEngine downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a report on Friday, May 1st. Morgan Stanley boosted their target price on shares of Atlassian from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday. Citigroup started coverage on shares of Atlassian in a report on Friday, May 15th. They set a “buy” rating on the stock. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Atlassian in a research report on Friday, May 1st. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Atlassian presently has an average rating of “Buy” and a consensus target price of $181.25.
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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