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Fly News Breaks for April 20, 2018
TEAM
Apr 20, 2018 | 09:19 EDT
William Blair analyst Bhavan Suri attributes the post-earnings weakness in shares of Atlassian to weaker than expected operating margin guidance for fiscal Q4. The guidance implies elevated levels of research and development spending, which is a long-term positive for the company, Suri tells investors in a research note titled "No Need to Panic: Growth Continues to Impress as Long-Term Fundamentals Remain Intact." The analyst believes Atlassian's fundamentals remain intact and would be a buyer of the stock on the pullback. He continues to believe the company can achieve over $400M in free cash flow by calendar 2019. Suri keeps an Outperform rating on Atlassian.
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