Atlassian (NASDAQ:TEAM) Releases Q2 2019 Earnings Guidance

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Atlassian (NASDAQ:TEAM) issued an update on its second quarter 2019 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.21-0.21 for the period, compared to the Thomson Reuters consensus 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.

NASDAQ TEAM traded down $2.66 during trading on Friday, hitting $73.29. 684,306 shares of the company’s stock traded hands, compared to its average volume of 2,097,740. The company has a quick ratio of 4.17, a current ratio of 4.17 and a debt-to-equity ratio of 1.16. Atlassian has a 12-month low of $43.11 and a 12-month high of $98.21. The firm has a market cap of $8.24 billion, a price-to-earnings ratio of -1,047.00, a PEG ratio of 65.33 and a beta of 2.73.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, October 18th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. The business had revenue of $267.30 million during the quarter, compared to analyst estimates of $259.67 million. Atlassian had a negative net margin of 36.71% and a negative return on equity of 0.75%. The company’s revenue was up 36.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.12 earnings per share. Equities analysts expect that Atlassian will post 0.09 earnings per share for the current fiscal year.

TEAM has been the subject of several research analyst reports. Morgan Stanley raised their price objective on shares of Atlassian from $63.00 to $69.00 and gave the stock an overweight rating in a report on Thursday, July 26th. BMO Capital Markets raised 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 raised their target price on shares of Atlassian to $70.00 and gave the company a hold rating in a research note on Friday, July 27th. Canaccord Genuity reaffirmed a buy rating and set a $85.00 target price (up previously from $65.00) on shares of Atlassian in a research note on Friday, July 27th. Finally, DA Davidson raised their target price on shares of Atlassian to $88.00 and gave the company a buy rating in a research note on Friday, July 27th. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $82.00.

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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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