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This stock has been one of our favorite picks since 2016.
Atlassian Corporation Plc (TEAM) designs, develops, licenses, and maintains software, as well as provides software hosting services worldwide.
The company offers JIRA, a team planning and project management platform; Confluence, a team content creation and sharing solution; HipChat, a team messaging and communications tool; and Bitbucket, a team code sharing and management software, as well as JIRA Service Desk for team services and support applications. Its products enable teams to organize, discuss and complete shared work.
Shares are heading higher in an upward trading channel following the company's latest quarterly report. The lower bounday of the said channel runs parrel to the stock's 50-day moving average. It reported 2nd Quarter December 2018 earnings of $0.25 per share on revenue of $299.0 million. The consensus earnings estimate was $0.21 per share on revenue of $288.2 million.
The company said it expects third quarter earnings of approximately $0.18 per share on revenue of $303.0 million to $305.0 million. The current consensus earnings estimate is $0.18 per share on revenue of $301.1 million for the quarter ending March 31, 2019. The company also said it now expects fiscal 2019 earnings of $0.81 to $0.82 per share on revenue of $1.195 billion to $1.99 billion. The company's previous guidance was earnings of approximately $0.78 per share on revenue of $1.175 billion to $1.183 billion and the current consensus earnings estimate is $0.78 per share on revenue of $1.18 billion for the year ending June 30, 2019.
Higher share prices are expected for this stock.
52-Weeks Trading Range: $51.76 - $115.88
Entry Point: $108.00
Stop Loss: $102.00
Target Price: $118.80
TEAM closed at $125.75
