Why Atlassian's Stock Is Trading Higher Today

Atlassian Corporation Plc TEAM shares are trading higher after the company reported better-than-expected Q4 EPS and sales results. The company also issued Q1 EPS and sales guidance above estimates.

Atlassian reported quarterly earnings of $0.24 per share which beat the analyst estimate of $0.18 and sales results of $560 million which beat the analyst consensus estimate of $524.09 million.

The company also issued first-quarter earnings per share guidance in the range of $0.38 and $0.39 which is above the $0.31 estimate and sales guidance in the range of $575 million and $590 million which is above the $540.87 million estimate.

Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide.

Atlassian stock was trading about 13% higher after hours at $302.09 per share on Thursday. The stock set a new 52-week high of $302.09 and has a 52-week low of $160.01.