Atlassian (TEAM) Issues FY18 Earnings Guidance

Atlassian (NASDAQ:TEAM) updated its FY18 earnings guidance on Thursday. The company provided EPS guidance of $0.47-0.48 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.47. The company issued revenue guidance of $853-857 million, compared to the consensus revenue estimate of $842.15 million.Atlassian also updated its Q3 guidance to $0.08 EPS.

Several analysts have commented on TEAM shares. Jefferies Group boosted their target price on shares of Atlassian to $53.00 and gave the stock a buy rating in a research report on Friday, October 20th. BidaskClub raised shares of Atlassian from a buy rating to a strong-buy rating in a research report on Thursday. Oppenheimer boosted their target price on shares of Atlassian to $58.00 and gave the stock an outperform rating in a research report on Thursday, January 4th. Canaccord Genuity reissued a buy rating and issued a $52.00 target price (up from $44.00) on shares of Atlassian in a research report on Friday, October 20th. Finally, JMP Securities upped their price objective on shares of Atlassian from $41.00 to $47.00 and gave the stock an outperform rating in a report on Friday, October 20th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Atlassian has an average rating of Buy and a consensus target price of $50.80.

Atlassian (NASDAQ TEAM) traded up $2.05 during mid-day trading on Thursday, reaching $54.87. 1,736,700 shares of the company’s stock were exchanged, compared to its average volume of 1,238,582. The company has a market capitalization of $12,630.00 and a PE ratio of -228.63. Atlassian has a 1 year low of $26.62 and a 1 year high of $55.25.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, October 19th. The technology company reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.17. Atlassian had a negative net margin of 7.96% and a negative return on equity of 2.11%. The business had revenue of $193.80 million during the quarter, compared to analysts’ expectations of $185.78 million. During the same quarter in the prior year, the business posted $0.10 earnings per share. Atlassian’s revenue was up 41.7% compared to the same quarter last year. analysts expect that Atlassian will post -0.13 earnings per share for the current fiscal year.

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About Atlassian

Atlassian Corporation Plc is a holding company. The Company offers a range of team collaboration products. The Company offers products, including JIRA, Confluence, HipChat, Bitbucket and JIRA Service Desk, for software developers, information technology (IT) managers and knowledge workers. The Company offers JIRA for team planning and project management; Confluence for team content creation and sharing; HipChat for team real-time messaging and communications; Bitbucket for team code sharing and management, and JIRA Service Desk for team service and support applications.

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