The ATLASSIAN CP-A (TEAM) Updates FY17 Earnings Guidance

The ATLASSIAN CP-A (TEAM) Updates FY17 Earnings Guidance

ATLASSIAN CP-A (NASDAQ:TEAM) issued an update on its FY17 earnings guidance on Thursday morning. The company provided EPS guidance of $0.32-$0.33 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.34. The company issued revenue guidance of $611-$615 million, compared to the consensus revenue estimate of $601.02 million.ATLASSIAN CP-A also updated its Q3 guidance to $0.06 EPS.

Shares of ATLASSIAN CP-A (NASDAQ:TEAM) traded up 0.81% during midday trading on Thursday, hitting $27.42. 920,071 shares of the stock were exchanged. The stock’s market cap is $6.04 billion. The firm has a 50 day moving average of $25.30 and a 200-day moving average of $27.98. ATLASSIAN CP-A has a 12 month low of $16.92 and a 12 month high of $35.16.

ATLASSIAN CP-A (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.03. The company had revenue of $136.80 million for the quarter, compared to the consensus estimate of $133.52 million. ATLASSIAN CP-A had a negative net margin of 0.68% and a positive return on equity of 0.42%. ATLASSIAN CP-A’s revenue was up 34.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.11 earnings per share. Equities research analysts anticipate that ATLASSIAN CP-A will post $0.34 EPS for the current year.

A number of equities research analysts recently issued reports on TEAM shares. Pacific Crest started coverage on shares of ATLASSIAN CP-A in a research note on Tuesday, November 15th. They set a sector weight rating on the stock. Zacks Investment Research downgraded shares of ATLASSIAN CP-A from a buy rating to a hold rating in a research note on Wednesday, November 9th. Oppenheimer Holdings Inc. set a $35.00 price target on shares of ATLASSIAN CP-A and gave the company a buy rating in a research note on Thursday, October 27th. Robert W. Baird raised shares of ATLASSIAN CP-A from a neutral rating to an outperform rating and set a $32.00 price target on the stock in a research note on Friday, December 2nd. Finally, Jefferies Group reaffirmed a buy rating and set a $39.00 price target 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 stock has a consensus rating of Buy and a consensus price target of $33.22.

Large investors have recently made changes to their positions in the stock. Franklin Resources Inc. increased its position in ATLASSIAN CP-A by 54.5% in the second quarter. Franklin Resources Inc. now owns 802,400 shares of the company’s stock valued at $20,782,000 after buying an additional 282,900 shares in the last quarter. Sei Investments Co. boosted its position in shares of ATLASSIAN CP-A by 19,455.3% in the second quarter. Sei Investments Co. now owns 122,612 shares of the company’s stock valued at $3,175,000 after buying an additional 121,985 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in shares of ATLASSIAN CP-A by 5.5% in the second quarter. Artisan Partners Limited Partnership now owns 2,283,543 shares of the company’s stock valued at $59,144,000 after buying an additional 119,304 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of ATLASSIAN CP-A by 7.4% in the second quarter. Alliancebernstein L.P. now owns 2,652,827 shares of the company’s stock valued at $68,708,000 after buying an additional 182,273 shares during the last quarter. Finally, Quadrature Capital Ltd boosted its position in shares of ATLASSIAN CP-A by 83.4% in the second quarter. Quadrature Capital Ltd now owns 31,990 shares of the company’s stock valued at $829,000 after buying an additional 14,552 shares during the last quarter. 73.12% of the stock is currently owned by institutional investors and hedge funds.

About ATLASSIAN CP-A

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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