Atlassian (NASDAQ:TEAM) Issues Q1 Earnings Guidance

Atlassian (NASDAQ:TEAM) updated its first quarter earnings guidance on Thursday. The company provided EPS guidance of $0.26-$0.27 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.29. The company issued revenue guidance of $430-$445 million, compared to the consensus revenue estimate of $438.88 million.Atlassian also updated its Q1 2021
After-Hours guidance to 0.26-0.27 EPS.

A number of analysts have commented on the stock. Jefferies Financial Group upped their price objective on shares of Atlassian from $145.00 to $175.00 and gave the company a hold rating in a research note on Monday, July 20th. They noted that the move was a valuation call. Mizuho increased their price target on shares of Atlassian from $175.00 to $200.00 and gave the stock a buy rating in a research report on Tuesday, May 26th. Morgan Stanley increased their price target on shares of Atlassian from $200.00 to $210.00 and gave the stock an overweight rating in a research report on Friday. Canaccord Genuity reissued a buy rating on shares of Atlassian in a research report on Friday, May 1st. Finally, Citigroup initiated coverage on shares of Atlassian in a research report on Friday, May 15th. They issued a buy rating for the company. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $181.25.

NASDAQ:TEAM traded down $11.01 during mid-day trading on Friday, reaching $176.65. The stock had a trading volume of 6,941,018 shares, compared to its average volume of 1,726,050. Atlassian has a fifty-two week low of $107.00 and a fifty-two week high of $198.41. The business’s 50 day moving average is $181.83 and its 200 day moving average is $158.97. The stock has a market cap of $21.54 billion, a P/E ratio of -122.67, a PEG ratio of 33.94 and a beta of 1.02.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, July 30th. The technology company reported $0.25 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.32. Atlassian had a positive return on equity of 2.00% and a negative net margin of 21.72%. The company had revenue of $430.48 million for the quarter, compared to the consensus estimate of $408.86 million. Research analysts predict that Atlassian will post 0.23 earnings per share for the current fiscal year.

Atlassian Company Profile

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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