The ATLASSIAN CP-A (TEAM) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

The ATLASSIAN CP-A (TEAM) Releases Quarterly  Earnings Results, Beats Expectations By $0.01 EPS

ATLASSIAN CP-A (NASDAQ:TEAM) issued its quarterly earnings data on Thursday. The company reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.01. The firm had revenue of $148.90 million for the quarter, compared to analysts’ expectations of $144.01 million. ATLASSIAN CP-A had a negative net margin of 0.68% and a positive return on equity of 0.42%. The firm’s revenue was up 35.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.11 EPS. ATLASSIAN CP-A updated its Q3 guidance to $0.06 EPS and its FY17 guidance to $0.32-$0.33 EPS.

ATLASSIAN CP-A (NASDAQ:TEAM) traded up 0.81% during midday trading on Thursday, hitting $27.42. 920,282 shares of the company traded hands. The company’s market cap is $6.04 billion. The stock has a 50 day moving average price of $25.30 and a 200-day moving average price of $27.98. ATLASSIAN CP-A has a 12-month low of $16.92 and a 12-month high of $35.16.

A number of large investors have recently modified their holdings of the company. California State Teachers Retirement System boosted its stake in shares of ATLASSIAN CP-A by 0.7% in the third quarter. California State Teachers Retirement System now owns 55,456 shares of the company’s stock valued at $1,662,000 after buying an additional 400 shares during the period. Vanguard Group Inc. boosted its stake in shares of ATLASSIAN CP-A by 7.9% in the second quarter. Vanguard Group Inc. now owns 15,349 shares of the company’s stock valued at $397,000 after buying an additional 1,126 shares during the period. BlackRock Investment Management LLC boosted its stake in shares of ATLASSIAN CP-A by 21.9% in the second quarter. BlackRock Investment Management LLC now owns 10,358 shares of the company’s stock valued at $268,000 after buying an additional 1,858 shares during the period. SG Americas Securities LLC acquired a new stake in shares of ATLASSIAN CP-A during the third quarter valued at approximately $105,000. Finally, BlackRock Fund Advisors boosted its stake in shares of ATLASSIAN CP-A by 1.6% in the third quarter. BlackRock Fund Advisors now owns 228,101 shares of the company’s stock valued at $6,836,000 after buying an additional 3,581 shares during the period. Hedge funds and other institutional investors own 73.12% of the company’s stock.

A number of equities research analysts recently commented on the stock. Oppenheimer Holdings Inc. set a $35.00 price objective on shares of ATLASSIAN CP-A and gave the company a “buy” rating in a research note on Monday, January 9th. BMO Capital Markets assumed coverage on shares of ATLASSIAN CP-A in a research note on Wednesday, January 4th. They issued a “market perform” rating and a $28.00 price objective on the stock. Canaccord Genuity reissued a “buy” rating and issued a $35.00 price objective on shares of ATLASSIAN CP-A in a research note on Thursday. Cowen and Company assumed coverage on shares of ATLASSIAN CP-A in a research note on Wednesday, October 5th. They issued an “outperform” rating and a $36.00 price objective on the stock. Finally, Jefferies Group reissued a “buy” rating and issued a $39.00 price objective on shares of ATLASSIAN CP-A in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $33.22.

ATLASSIAN CP-A Company Profile

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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