|Bid||116.62 x 1300|
|Ask||116.86 x 900|
|Day's Range||109.44 - 121.56|
|52 Week Range||65.17 - 149.80|
|Beta (3Y Monthly)||1.01|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jan 15, 2020 - Jan 20, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||149.94|
Technology stocks led losses Friday as indexes accelerated their declines at midday and Dow components Boeing and Johnson & Johnson sold off on bad news.
(Bloomberg) -- Software companies fell on Friday, extending recent losses after results from Atlassian Corp. topped analyst forecasts yet failed to provide enough upside to assuage concerns over the group’s valuation.Atlassian shares dropped as much as 11% to their lowest level since May. The stock was on track for its third straight decline, as was Veeva Systems Inc., off 5.4%, and ServiceNow Inc., down 3.8%, which reports its own results next week. Coupa Software Inc. sank 8.4% in its fourth straight drop, a period over which it has shed more than 20% of its valuation. Twilio Inc. was down 4.5%. Alteryx Inc. was down 7.2% and Crowdstrike Holdings Inc. dropped 7.3%, heading for the eighth decline in the past nine sessions.A basket of high-multiple software stocks tracked by Goldman Sachs fell 5.7% in its fifth straight decline, hitting its lowest since March, while the Russell Midcap Technology Growth Index was down 2.2%.“When investors have lost conviction, it usually means the best strategy is to stay conservative until the coast is at least somewhat clear,” wrote Richard Davis, an analyst at Canaccord Genuity. “We are in that time in the cycle.”Davis has a buy rating on Atlassian, writing that it “fits the description of a safe harbor company.” However, he said the stock has a “high-ish valuation” and suggested that multiples could be hard to justify. “In this macro environment,” he wrote, “if anyone expected an over-sized guide up, they haven’t been paying attention.”Recent weakness in the sector included both Workday Inc. and Zoom Video Communications Inc. tumbling in the wake of their respective investor events, which underlined growth concerns.Atlassian’s results included a raised full-year revenue forecast, and Cowen wrote that this could ease broader concerns over the sector.This “was one of the more anticipated prints in software as a result of emerging macro concerns in the space and it being one of the first to report,” analyst J. Derrick Wood wrote. The “solid numbers & outlook, along with constructive commentary on stable demand conditions, should give investors greater comfort in the potential for stability in software spending.”To contact the reporter on this story: Ryan Vlastelica in New York at email@example.comTo contact the editors responsible for this story: Catherine Larkin at firstname.lastname@example.org, Jim SilverFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
KeyBanc Capital Markets analyst Alex Kurtz maintained an Overweight rating on Atlassian with a $150 price target. Mizuho Securities analyst Gregg Moskowitz reiterated a Buy rating and $152 price target.
Futures: The stock market rally has made impressive gains, but can the indexes hit all-time highs? Atlassian and Intuitive Surgical were key earnings movers late.
Atlassian earnings and revenue topped fiscal Q1 estimates on Thursday while guidance edged by Wall Street targets. Atlassian stock initially fell on the news but then reversed.
Atlassian Corporation PLC (TEAM) delivered earnings and revenue surprises of 16.67% and 3.40%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
Atlassian Corp. shares declined in the extended session Thursday even after the enterprise cloud-software company posted results and an outlook slightly above Wall Street estimates. Atlassian shares fell 3.3% after hours, following a 1.3% decline in the regular session to close at $122.64. The company reported fiscal first-quarter net income of $69.3 million, or 28 cents a share, compared with a loss of $242.4 million, or $1.03 a share, in the year-ago period. Revenue rose to $363.4 million from $267.3 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 24 cents on revenue of $351.8 million. Atlassian expects adjusted fiscal second-quarter earnings of about 27 cents a share on revenue of $386 million to $390 million, while analysts had forecast 26 cents a share on revenue of $381.5 million. Atlassian also announced it acquired automation company Code Barrel for an undisclosed amount.
Atlassian Corporation PLC (NASDAQ: TEAM) shares are falling after issuing weak 2020 earnings guidance. The company issued strong second-quarter earnings and sales guidance, but 2020 earnings guidance was short of consensus estimates. "We're out of the blocks in good form in fiscal 2020," said Mike Cannon-Brookes, Atlassian's co-founder and co-CEO.
Software stocks have seen an average pullback of 20% from their 52-week highs, as rich valuations and high ownership interest made them susceptible to macro volatility, according to Morgan Stanley. Notwithstanding ...
Don't be caught off-guard: Atlassian Corporation (NASDAQ: TEAM ) releases its next round of earnings this Thursday, October 17. Want to skip the homework and get all the facts in one place? We thought ...
Workday Inc. shares are off more than 11% in Wednesday morning trading and pacing the declining software sector after the company held its user conference and analyst day. Several analysts flagged the company's commentary on its human-capital management product, which Workday expects to end the year with 20% growth, marking a slowdown. "Financials will need to continue to grow at healthy rates to offset this," wrote Jefferies analyst Brent Thill, though he said the attachment rate of financials to the core product is relatively low, suggesting opportunity. While Workday also announced some new products, Macquarie analyst Sarah Hindlian questioned the revenue potential for some of them. "For example, blockchain-enabled Workday Credentials allows verification of credentials such as employment and educational history," she wrote. "We think this is likely a limited market opportunity." Another issue for Workday is that its chief executive commented that the company has "definitely seen some delays" in deal activity, but Workday doesn't expect these to impact the business or result in cancellations. Other software stocks are getting hit in Wednesday trading as well, including Slack Technologies Inc. , which was the subject of a price-target cut at Morgan Stanley, and Adobe Systems Inc. , which received a Citi Research downgrade. Shares of Okta Inc. , Splunk Inc. , Zoom Video Communications Inc. , and Atlassian Corp. PLC are also down. The iShares Expanded Tech-Software ETF is off 2.3%, while the S&P 500 has lost 0.1%.
ServiceNow's ties to digital transformation projects stands out heading into the third quarter earnings period as investors brace for more volatility in software stocks, says one analyst.
Hedge funds and other investment firms run by legendary investors like Israel Englander, Jeffrey Talpins and Ray Dalio are entrusted to manage billions of dollars of accredited investors' money because they are without peer in the resources they use to identify the best investments for their chosen investment horizon. Moreover, they are more willing to […]
Okta rolled out a slate of new cybersecurity, access management and authentication tools with major enterprises in mind. CEO Todd McKinnon talks to TheStreet about why Okta's laser-focused on the largest organizations in the world.
Atlassian Corporation PLC (TEAM) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Atlassian shares failed to break out from trendline resistance following a broad price hike across its products, but analysts remain confident.
Slack , Atlassian , and Microsoft Teams. The big question: Is there room for all three in the workplace communication sector? Short answer: Yes. Longer answer: It's complicated. Atlassian has somewhat of a first-mover advantage.
Four top software stocks on seasoned hedge fund manager Jim Roppel's watchlist include Atlassian stock, Okta stock, ServiceNow stock and DocuSign stock.
Atlassian Corporation Plc , a leading provider of team collaboration and productivity software, today announced that it will release financial results for the first quarter of fiscal year 2020 ended September 30, 2019 after market close on Thursday, October 17, 2019.
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Atlassian Corp co-founder Mike Cannon-Brookes has pledged to help fund an ambitious A$20 billion ($14 billion) project to supply solar power from northern Australia to Singapore by a subsea cable, an Australian newspaper reported on Wednesday. The plan unveiled earlier this year by Singapore firm Sun Cable is to build the world's largest solar farm in Tennant Creek in the Northern Territory, which could export 3 gigawatts of power via a 3,800 km (2360 miles) cable to Singapore. Cannon-Brookes did not specify how much of the "insane" project his family fund, Grok, planned to finance but said he was being joined by other Australian entrepreneurs and an announcement was likely before the end of the year.
Ahead of the United Nations Climate Action Summit on Sept. 22, multinational companies are committing to using renewable energy at record levels. IKEA and Google are two of the organizations that have pledged major renewable energy initiatives in recent days. Amazon and other companies have vowed to adhere to the Paris climate change accord goals well ahead of schedule.
(Bloomberg) -- Tens of thousands of people around the world demonstrated to demand action on climate change as a global movement backed by 16-year-old environmental activist Greta Thunberg got under way Friday.Students skipped school and workers walked off jobs to participate in the rallies. In a central Sydney park, protesters held up homemade signs with slogans such as “You’re Burning our Future” and “There Is No Planet B.” In Berlin, demonstrators gathered by the landmark Brandenburg Gate, just a few steps from where Chancellor Angela Merkel’s government hammered out a 54 billion-euro ($60 billion) climate-protection package.Thousands gathered in New York, Toronto, Johannesburg, Warsaw and many more cities around the globe -- eager to add their voices to a movement fueled by youthful angst about rising temperatures.“This is about the future of our planet,” said Laura Lazzarin, an Italian national living in Berlin who joined demonstrators near the Brandenburg Gate. “We can’t go on like this, and politicians must realize that.”GlobalClimateStrike in London are urging political leaders to take action on the climate crisis CoveringClimateNow pic.twitter.com/2uCxa7jBLp— Bloomberg TicToc (@tictoc) September 20, 2019 Protesters joining the Global Climate Strike movement want governments to treat global warming as an emergency, slash subsidies for fossil fuels, and switch economies to 100% renewable energy as soon as possible. They’re part of a worldwide series of demonstrations that organizers say will take place in 150 countries on Friday and on Sept. 27.“As we deal with devastating climate breakdown and hurtle towards dangerous tipping points, young people are calling on millions of us across the planet to disrupt business as usual by joining the global climate strikes,” according to a statement on the organizers’ website.The movement has taken hold in Europe, where climate has been catapulted to the top of the political agenda. The European Union should walk away from fossil fuels, the bloc’s energy chief told Bloomberg TV this week after a record spike in oil prices. A total of 93% of Europeans see global warming as a serious problem, according to a recent survey by the European Commission.In front of the Brandenburg Gate, three protesters dressed in black stood on top of melting ice blocks with nooses around their necks as hundreds of people gathered around them, carrying home-made placards, blowing whistles and chanting “We are here, we are loud, because you’re stealing our future.”In Paris demonstrators -- a large number of whom were students -- marched from Place de la Nation, carrying placards with slogans like “our house is on fire” and “time to act.”In Poland, home to 33 of the EU’s 50 most polluted cities, more than 60 climate protests were held Friday. At the biggest gathering in Warsaw, more than a thousand demonstrators called for the government to curb its dependence on coal, which is burned to produce more than 80% of the country’s electricity.PrayforAmazon. We should stop buying the beef that's being imported from Brazil to Hong Kong."Climate activists gathered in Hong Kong, demanding world leaders to address global warming ClimateStrike GlobalClimateStrike pic.twitter.com/xfA2Gk0llB— Bloomberg TicToc (@tictoc) September 20, 2019 “The government is doing too little and this needs to be changed,” said Dionizy Debski, a high school student from Warsaw.Click here for TicToc’s ongoing coverage of the global climate protestsThe movement -- inspired by the braided Swedish teenager Thunberg who started weekly school walkouts last year -- has gone global, drawing parallels with other protests like the Civil Rights struggle and anti-apartheid demonstrations.Friday’s protests come ahead of United Nations events, including the first Youth Climate Summit on Saturday and the Climate Action Summit of government, corporate and other leaders on Sept. 23 in New York. Thunberg, who founded the “Fridays for Future” protest group, captured media attention by sailing across the Atlantic to address the youth event, rather than traveling by plane -- doing her bit to cap emissions.The climate campaign has spurred some companies into action. Germany’s Volkswagen AG, the world’s biggest automaker, pledged to make more electric cars and become climate-neutral by 2050.Amazon.com Inc. Chief Executive Officer Jeff Bezos vowed Thursday to wean his company off fossil fuels by 2030. He also announced the formation of a new organization -- the Climate Pledge -- amid a steady drumbeat of criticism from activists and his own employees over Amazon’s dependence on fossil fuels.GlobalClimateStrike rally.Protesters are urging leaders to address global warming and put an end to the age of fossil fuels CoveringClimateNow pic.twitter.com/jGfAI7Bnse— Bloomberg TicToc (@tictoc) September 20, 2019 Despite that pledge, Amazon employees around the world walked off the job on Friday, in offices from Poland to South Africa and Ireland.In Seattle, hundreds of workers, joined by colleagues from Google and other tech companies, rallied in front of the biospheres at the heart of Amazon’s headquarters.Weston Fribley, an employee and organizer of Amazon Employees for Climate Justice, said Bezos’s pledge was “just the beginning.” The plans, he said, “must be implemented.” He also repeated the group’s call for Amazon to end its sales to fossil fuel companies.On Thursday, Alphabet Inc. Chief Executive Officer Sundar Pichai made his own announcement, saying Google had agreed to buy 1.6 gigawatts of wind and solar power, describing it as a record purchase of renewable energy by a single company.Google Makes Biggest Clean Energy Purchase Ever by a CompanyIn Australia, the campaign has the backing of high-profile business leaders such as the billionaire co-founder of enterprise software company Atlassian Corp., Mike Cannon-Brookes. Atlassian was among hundreds of Australian employers, including law firm Slater & Gordon Ltd. and real-estate portal Domain Holdings Australia Ltd., that allowed workers to take time off to attend the rallies.The call to action has resonated across Europe, which has suffered from increasing bouts of drought and wildfires, and in Australia -- the world’s driest inhabited continent that derives the bulk of its energy from burning coal.For all the support the campaign is deriving, however, there are pockets of opposition. In Germany, the far-right AfD party slammed the government’s climate measures, citing escalating costs. Merkel’s government is “mercilessly squeezing its citizens for an ideology,” its co-leader Alice Weidel said in a Twitter post.(Updates with Amazon workers protest.)\--With assistance from Maciej Martewicz, Helene Fouquet and Matt Day.To contact the reporters on this story: Bruce Einhorn in Hong Kong at email@example.com;Thuy Ong in Sydney at firstname.lastname@example.org;Stefan Nicola in Berlin at email@example.comTo contact the editors responsible for this story: Emma O'Brien at firstname.lastname@example.org, Vidya Root, Eric PfannerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.