The ATLASSIAN CP-A (TEAM) Updates Q3 Earnings Guidance

The ATLASSIAN CP-A (TEAM) Updates Q3 Earnings Guidance

ATLASSIAN CP-A (NASDAQ:TEAM) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.06 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.08. The company issued revenue guidance of $155-$157 million, compared to the consensus revenue estimate of $154.42 million.ATLASSIAN CP-A also updated its FY17 guidance to $0.32-$0.33 EPS.

Shares of ATLASSIAN CP-A (NASDAQ:TEAM) traded up 0.81% during mid-day trading on Thursday, reaching $27.42. 920,071 shares of the company traded hands. ATLASSIAN CP-A has a 52 week low of $16.92 and a 52 week high of $35.16. The firm’s market capitalization is $6.04 billion. The firm has a 50-day moving average price of $25.30 and a 200 day moving average price of $27.98.

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

Several equities analysts recently commented on TEAM shares. Cowen and Company started coverage on shares of ATLASSIAN CP-A in a research report on Wednesday, October 5th. They issued an outperform rating and a $36.00 price objective for the company. 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 report on Monday, January 9th. Pacific Crest started coverage on shares of ATLASSIAN CP-A in a research report on Tuesday, November 15th. They issued a sector weight rating for the company. Jefferies Group reaffirmed a buy rating and issued a $39.00 price objective on shares of ATLASSIAN CP-A in a research report on Wednesday. Finally, Zacks Investment Research lowered shares of ATLASSIAN CP-A from a buy rating to a hold rating in a research report on Wednesday, November 9th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $33.22.

Several large investors have recently modified their holdings of TEAM. 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 worth $397,000 after buying an additional 1,126 shares during the last quarter. 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 worth $268,000 after buying an additional 1,858 shares during the last quarter. BlackRock Inc. boosted its stake in shares of ATLASSIAN CP-A by 137.0% in the second quarter. BlackRock Inc. now owns 7,996 shares of the company’s stock worth $207,000 after buying an additional 4,622 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of ATLASSIAN CP-A by 8.4% in the second quarter. BlackRock Fund Advisors now owns 224,520 shares of the company’s stock worth $5,815,000 after buying an additional 17,479 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of ATLASSIAN CP-A by 8.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 289,486 shares of the company’s stock worth $7,498,000 after buying an additional 23,598 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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