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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 forming a bulish "double bottom" formation following the company's latest quarterly report. The pivot point of the formation is near the stock's 200-day moving average. On July 25th, Atlassian reported Quarter June 2019 earnings of $0.10 per share on revenue of $334.6 million. The consensus earnings estimate was $0.16 per share on revenue of $330.5 million. Revenue grew 37.2% on a year-over-year basis.
The company said it expects first quarter non-IFRS earnings of approximately $0.24 per share on revenue of $349.0 million to $353.0 million and fiscal 2020 earnings of approximately $1.00 per share on revenue of $1.54 billion to $1.556 billion. The current consensus earnings estimate is $0.21 per share on revenue of $349.9 million for the quarter ending September 30, 2019 and $1.00 per share on revenue of $1.55 billion for the year ending June 30, 2020.
Higher share prices are expected for this stock.
52-Weeks Trading Range: $65.17 to $149.80
Entry Point: $122.00
Stop Loss: $116.00
Target Price: $134.20
Closed at $120.
