Atlassian Corporation PLC (TEAM) Posts Quarterly Earnings Results, Beats Estimates By $0.17 EPS
Atlassian Corporation PLC (NASDAQ:TEAM) issued its earnings results on Thursday. The technology company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.17, Bloomberg Earnings reports. Atlassian Corporation PLC had a negative net margin of 6.86% and a negative return on equity of 1.91%. The firm had revenue of $193.80 million for the quarter, compared to analysts’ expectations of $185.78 million. During the same quarter last year, the business earned $0.10 earnings per share. The business’s revenue was up 41.7% on a year-over-year basis. Atlassian Corporation PLC updated its Q2 guidance to $0.12 EPS and its FY18 guidance to $0.46-0.47 EPS.
Atlassian Corporation PLC (TEAM) traded up 18.76% during mid-day trading on Friday, reaching $47.80. 1,430,643 shares of the company traded hands. The firm’s market capitalization is $10.86 billion. Atlassian Corporation PLC has a 12-month low of $23.80 and a 12-month high of $49.46. The company’s 50 day moving average price is $36.63 and its 200 day moving average price is $35.44.
Several research analysts have recently issued reports on TEAM shares. BMO Capital Markets raised their target price on shares of Atlassian Corporation PLC from $33.00 to $40.00 and gave the stock a “market perform” rating in a report on Friday, July 7th. Zacks Investment Research upgraded shares of Atlassian Corporation PLC from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Friday, July 14th. Morgan Stanley upgraded shares of Atlassian Corporation PLC from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $35.00 to $45.00 in a report on Tuesday, July 25th. Cowen and Company restated a “buy” rating and issued a $43.00 target price on shares of Atlassian Corporation PLC in a report on Friday, July 28th. Finally, BTIG Research restated a “neutral” rating on shares of Atlassian Corporation PLC in a report on Tuesday, August 15th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Atlassian Corporation PLC presently has a consensus rating of “Buy” and an average target price of $44.36.
About Atlassian Corporation PLC
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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