Why Atlassian Stock Gained 12.7% Last Month
Shares of Atlassian (NASDAQ: TEAM) gained 12.7% in April 2021, according to data from S&P Global Market Intelligence. The Australia-based maker of project management software and application development tools crushed Wall Street's estimates in the third quarter, though the stock gains would have been larger if Atlassian had followed the report up with equally impressive guidance targets.
Atlassian saw revenue rise 38% year over year to $569 million. Adjusted earnings tripled from $0.21 to $0.63 per diluted share. Analysts would have settled for earnings near $0.29 per share on sales in the vicinity of $534 million.
Looking ahead to the fourth quarter, management expects earnings of roughly $0.17 per share on revenue near $520 million. Here, your average analyst was expecting earnings of $0.23 per share on sales in the neighborhood of $505 million.
Source Fool.com
