Atlassian (TEAM) Updates FY18 Earnings Guidance

Atlassian (NASDAQ:TEAM) issued an update on its FY18 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.47-0.48 for the period, compared to the Thomson Reuters consensus estimate of $0.47. The company issued revenue guidance of $853-857 million, compared to the consensus revenue estimate of $842.15 million.Atlassian also updated its Q3 guidance to $0.08 EPS.

Atlassian (TEAM) traded up $1.33 during midday trading on Friday, hitting $50.19. The company had a trading volume of 907,571 shares, compared to its average volume of 1,183,960. Atlassian has a fifty-two week low of $27.96 and a fifty-two week high of $55.91. The firm has a market cap of $4,998.87, a PE ratio of -98.41 and a beta of 2.78.

Several equities analysts recently weighed in on TEAM shares. Zacks Investment Research cut Atlassian from a buy rating to a hold rating in a research report on Saturday, November 11th. Cowen restated an outperform rating and set a $55.00 price target (up from $47.00) on shares of Atlassian in a research note on Friday, October 20th. Morgan Stanley set a $49.00 price target on Atlassian and gave the company a buy rating in a research note on Friday, October 20th. JMP Securities boosted their price target on Atlassian from $41.00 to $47.00 and gave the company an outperform rating in a research note on Friday, October 20th. Finally, Oppenheimer boosted their price target on Atlassian to $58.00 and gave the company an outperform rating in a research note on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $55.90.

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About Atlassian

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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