Atlassian (NASDAQ:TEAM) Releases Q2 2020 Earnings Guidance

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Atlassian (NASDAQ:TEAM) issued an update on its second quarter 2020 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $-0.03–0.03 for the period. The company issued revenue guidance of $386-390 million, compared to the consensus revenue estimate of $381.52 million.Atlassian also updated its FY 2020 guidance to $0.01-0.01 EPS.

NASDAQ:TEAM traded up $4.25 during mid-day trading on Friday, reaching $118.95. The stock had a trading volume of 1,420,100 shares, compared to its average volume of 1,673,859. Atlassian has a twelve month low of $65.17 and a twelve month high of $149.80. The business has a 50 day simple moving average of $123.24 and a 200 day simple moving average of $129.00. The firm has a market capitalization of $13.92 billion, a price-to-earnings ratio of -699.71, a PEG ratio of 113.54 and a beta of 1.29.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, October 17th. The technology company reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.04. The business had revenue of $363.40 million for the quarter, compared to analyst estimates of $351.79 million. Atlassian had a negative net margin of 24.95% and a negative return on equity of 2.76%. The firm’s revenue was up 36.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.20 earnings per share. On average, equities research analysts forecast that Atlassian will post 0.05 earnings per share for the current year.

TEAM has been the topic of several research reports. Robert W. Baird upped their price objective on shares of Atlassian from $120.00 to $150.00 and gave the company an outperform rating in a research note on Friday, July 26th. BMO Capital Markets set a $150.00 price objective on shares of Atlassian and gave the company a hold rating in a research note on Friday, October 18th. DA Davidson upped their price objective on shares of Atlassian to $155.00 and gave the company a buy rating in a research note on Friday, July 26th. BidaskClub lowered shares of Atlassian from a hold rating to a sell rating in a research note on Friday, October 25th. Finally, ValuEngine downgraded shares of Atlassian from a buy rating to a hold rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $141.44.

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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