Atlassian (NASDAQ:TEAM) issued an update on its first quarter 2021
After-Hours earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.26-0.27 for the period, compared to the Thomson Reuters consensus earnings per share 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 guidance to $0.26-$0.27 EPS.

A number of equities research analysts recently commented on the company. Goldman Sachs Group increased their price target on Atlassian from $194.00 to $219.00 and gave the stock a buy rating in a research report on Wednesday, June 24th. They noted that the move was a valuation call. ValuEngine downgraded Atlassian from a buy rating to a hold rating in a research note on Friday, May 1st. SunTrust Banks reiterated a buy rating on shares of Atlassian in a research note on Tuesday, April 14th. Canaccord Genuity reaffirmed a buy rating on shares of Atlassian in a report on Friday, May 1st. Finally, BidaskClub downgraded shares of Atlassian from a buy rating to a hold rating in a research report on Wednesday, July 15th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $181.25.

Shares of NASDAQ TEAM traded down $11.01 during midday 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. The stock has a 50-day moving average of $181.83 and a 200-day moving average of $158.97. Atlassian has a 12-month low of $107.00 and a 12-month high of $198.41. The company has a market capitalization of $21.54 billion, a price-to-earnings ratio of 3,753.20, a price-to-earnings-growth ratio of 36.05 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 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.32. Atlassian had a negative net margin of 21.72% and a positive return on equity of 2.00%. The company had revenue of $430.48 million for the quarter, compared to analysts’ expectations of $408.86 million. Sell-side analysts predict that Atlassian will post 0.23 earnings per share for the current fiscal 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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