Atlassian (TEAM) Issues Q2 2019 Earnings Guidance

Atlassian (NASDAQ:TEAM) updated its second quarter 2019 earnings guidance on Thursday. The company provided EPS guidance of $0.21-0.21 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.20. The company issued revenue guidance of $287-289 million, compared to the consensus revenue estimate of $281.35 million.Atlassian also updated its FY 2019 guidance to $0.78-0.78 EPS.

A number of equities analysts have commented on the stock. BMO Capital Markets boosted their price objective on shares of Atlassian from $64.00 to $82.00 and gave the stock a market perform rating in a report on Friday, July 27th. They noted that the move was a valuation call. Jefferies Financial Group boosted their price objective on shares of Atlassian to $83.00 and gave the stock a hold rating in a report on Tuesday, September 4th. Canaccord Genuity reiterated a buy rating and issued a $85.00 price objective (up previously from $65.00) on shares of Atlassian in a report on Friday, July 27th. BidaskClub lowered shares of Atlassian from a strong-buy rating to a buy rating in a report on Friday, October 5th. Finally, Cowen reiterated a buy rating and issued a $90.00 price objective on shares of Atlassian in a report on Friday, July 27th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Atlassian currently has a consensus rating of Buy and an average price target of $79.92.

Shares of Atlassian stock traded down $1.74 during trading on Thursday, reaching $81.89. The company had a trading volume of 2,482,300 shares, compared to its average volume of 1,329,418. The firm has a market cap of $10.21 billion, a PE ratio of -1,169.86, a price-to-earnings-growth ratio of 73.67 and a beta of 2.58. The company has a debt-to-equity ratio of 0.92, a quick ratio of 3.95 and a current ratio of 3.95. Atlassian has a fifty-two week low of $39.06 and a fifty-two week high of $98.21.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, July 26th. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The business had revenue of $243.80 million for the quarter, compared to analyst estimates of $233.42 million. Atlassian had a negative net margin of 13.65% and a negative return on equity of 2.30%. The company’s revenue for the quarter was up 39.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.09 EPS. On average, equities analysts predict that Atlassian will post 0.1 earnings per share for the current 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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