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Atlassian Corporation Plc (TEAM), through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide.
It provides project tracking, content creation and sharing, and service management products.
The company's products include JIRA, a workflow management system that enables teams to plan, organize, track, and manage their work and projects; Confluence, a content collaboration platform that is used to create, share, organize, and discuss projects; and Trello, a collaboration and organization product, which captures and adds structure to fluid fast-forming work for teams.
Its products also comprise Bitbucket, a code management and collaboration product for teams using distributed version control systems; and Jira Service Desk, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams.
In addition, the company offers Opsgenie, an incident management tool that enables IT teams to plan for and respond to service disruptions; Jira Align that enables enterprise organizations build and manage a master plan that maps strategic projects to the various work streams required to deliver them; and other tools comprising Atlassian Access, Bamboo, Crowd, Crucible, Fisheye, Jira Portfolio, Sourcetree, and Statuspage.
Atlassian Cls A Ord reported 2nd Quarter December 2019 earnings of $0.37 per share on revenue of $408.7 million. The consensus earnings estimate was $0.27 per share on revenue of $388.7 million. The Earnings Whisper number was $0.29 per share. Revenue grew 36.7% on a year-over-year basis.
The company said it expects third quarter non-IFRS earnings of approximately $0.20 per share on revenue of $395.0 million to $399.0 million. The current consensus estimate is earnings of $0.22 per share on revenue of $397.6 million for the quarter ending March 31, 2020. The company also said it now expects fiscal 2020 earnings of $1.03 to $1.09 per share on revenue of $1.59 billion to $1.60 billion. The company's previous guidance was earnings of approximately $1.00 per share on revenue of $1.56 billion to $1.574 billion and the current consensus earnings estimate is $1.01 per share on revenue of $1.57 billion for the year ending June 30, 2020.
This stock reports today, Thursday, April 30th, following the market close.
The stock forms a bullish wedge and today's earnings report should be the catalyst that is needed to push the shares higher.
Entry point: $154.00
52-week trade range: $106.11 - $158.98
Stop/Loss: $148.00
Target Price: $169.00
TEAM closed at $170.25
