After hours: 4:36PM EDT
|Bid||112.35 x 1200|
|Ask||112.42 x 1100|
|Day's Range||110.31 - 113.40|
|52 Week Range||50.84 - 113.40|
|Beta (3Y Monthly)||1.51|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Free Trello users will still be able to maintain an unlimited number of boards. Atlassian acquired Trello in 2017 for $425 million. Atlassian TEAM , the maker of collaboration software for developers, is aiming to ramp up revenue from its Trello service, more than two years after buying the tool-tracking company for $425 million .
An acquisition expands Atlassian's reach in large organizations, and a new monetization approach for Trello will fuel the product's growth.
Atlassian's $166 million acquisition of AgileCraft, announced late Monday, makes a good fit with the software provider's Jira-branded project-tracking tools, analysts said in notes Tuesday.
Atlassian said it expects to add $1 million to $2 million to its annual revenue as a result of buying AgileCraft.
Atlassian Corp. continues to build out its tech-focused software offerings after gracefully bowing out of the workplace-messaging warfare, announcing Monday its second acquisition in six months.
Atlassian Corp. has agreed to acquire a six-year-old startup that helps businesses plan collaboratively among teams for $166 million, the company announced Monday afternoon after establishing another record-high closing price. AgileCraft will cost the company $154 million in a cash payment, with the rest paid out in shares with vesting provisions. The purchase could show Atlassian's refocused direction - the software company previously sold its businesses that attempted to compete with Slack technologies Inc. and Microsoft Corp. in workplace chat to Slack, along with investing in the business-messaging startup. Atlassian said that the deal would add $1 million to $2 million to revenue in fiscal 2019 revenue, which should be three-quarters complete by the time the acquisition closes in April, but is expected to be dilutive to margins both this year and in fiscal 2020. Atlassian shares closed at an all-time high Monday and have gained 87.7% in the past year, as the S&P 500 index has increased 2.6%, pushing the software company's market capitalization higher than $25 billion. The stock dipped about 0.4% in late trading Monday immediately after the acquisition was announced.
Atlassian Corporation PLC (TEAM) closed at $110.27 in the latest trading session, marking a -0.19% move from the prior day.
PagerDuty had a $15.3 million net loss on sales of $31.2 million in the quarter that ended on Oct. 31. Competitors include Atlassian and Splunk, who entered the market through acquisition. PagerDuty , whose software helps companies respond quickly when their websites go down, is preparing to hit the public markets.
Salesforce.com and Microsoft will leverage their cloud-computing prowess to drive further growth, says a Mizuho Securities analyst that called both companies “top picks” in software.
Investing can be hard but the potential fo an individual stock to pay off big time inspires us. But when you hold the right stock for the right time period,Read More...
A two-month rally in enterprise software and cybersecurity stocks gave way to profit-taking on Monday when shares in Salesforce, Twilio, Atlassian, Splunk, and other companies took a hit.
The key market indexes moved off their session lows heading into the last hour of regular trade. The Dow led the downside as health care names weighed.
Netflix, Palo Alto Networks, Salesforce.com and Lululemon are among 40 stocks expecting 25% to 200% earnings growth in 2019.
Shares of software stocks are getting crunched in Monday afternoon trading, as investors await Salesforce.com Inc.'s earnings report after the bell. Okta Inc.'s stock is among the biggest losers in Monday's session, down more than 8%. Atlassian Inc. shares are down roughly 6%, while Veeva Systems Inc. , Splunk Inc. , and Workday Inc. shares are all down about 5%. Nutanix Inc. shares dropped again following a downgrade at Raymond James. The SPDR S&P Software & Services ETF is off 2.8% in Monday trading. It has gained 15.5% over the past three months, while the S&P 500 has risen 2.9%.
(Bloomberg Opinion) -- Those of us who write about technology and financial markets spent a good chunk of last year chronicling the ups and downs of FAANG stocks (or FAAMGs), the awful acronyms for a handful of successful U.S. tech companies.
Box stock tumbled more than 20% in late trading after the cloud storage firm reported fourth-quarter earnings that topped analyst forecasts but offered guidance that was below consensus. At the time, Box had reported a big jump in sales and raised its sales guidance to $609.2 million. Box’s profit, however, is set to be short-lived, as the company said it would lose five cents to six cents a share during its fiscal first quarter, below forecasts for a loss of one cent. Box also said it would report somewhere between a loss of three cents a share and profit of one cent a share during fiscal 2020.
In the latest trading session, Atlassian Corporation PLC (TEAM) closed at $106.75, marking a +1.43% move from the previous day.
Could jeans destroy the stock market's uptrend? Could Levi's be the straw that breaks the bull camel's back? When people try to fathom what can crush the animal spirits they always retreat to the same old same old -- a break-up of the trade negotiations with China, a more forceful Fed, another government shutdown.
Shares of DocuSign Inc. are up 1.2% in afternoon trading Wednesday after Deutsche Bank analyst Karl Keirstead upgraded the stock to buy from hold and raised his price target to $65 from $50. He wrote of "solid field checks" based on his conversations with large customers. "The overall software space appears to be powering through the recent macro/IT concerns, with several names (ServiceNow , Zendesk , Atlassian , RingCentral [s:rng] , Twilio ) posting accelerating growth, increasing our comfort with DocuSign's fiscal 2020 outlook," he wrote. Keirstead expects that customers wouldn't cut back on their DocuSign spending "even in a recession" due to cost savings. The stock has gained 25% over the past three months, as the S&P 500 has risen 1%.
After tech stocks ended 2018 on a treacherous note, the new year has brought renewed prosperity to the sector. Software stocks in particular are rallying.Adobe Systems (NASDAQ:ADBE) is no exception. From its recent low of $205 per share, the Adobe stock price is back up to $258. That puts ADBE stock within striking range of its all-time high price of $277.Across the sector, investors are chasing stocks to fresh new heights. On Monday, a variety of cloud and software plays hit 52-week or all-time highs. Among the names in that category were Shopify (NYSE:SHOP), Coupa Software(NASDAQ:COUP), Smartsheet (NYSE:SMAR), Atlassian (NASDAQ:TEAM), Workday (NASDAQ:WDAY), and VMware (NYSE:VMW), among others.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 9 U.S. Stocks That Are Coming to Life Again So Adobe stock should be going up, since the sector is on fire. Adobe's recent strong performance has little connection to its own particular fundamentals. And given the hotness of the tech sector, savvy traders should consider selling tech stocks and taking profits at this point. For Adobe, 2018 Was a Great YearAdobe has delivered impressive growth in recent years, and that trend continued in 2018. Rather remarkably, the revenue increases of both major Adobe business units were almost equal. The company's Digital Media unit, which accounts for roughly a third of its revenue, generated top-line growth of 27%. The sales of Adobe's core Digital Media business, which accounts for around 70% of Adobe's revenues, increased by 26%. With the revenue of both major divisions increasing more than 25% annually, the company is clearly doing well.You may have seen some griping about Adobe's last earnings report of 2018. The company's earnings per share did come in below analysts' consensus estimate, but its revenue came in above the consensus outlook. The earnings shortfall was due to costs related to Adobe's acquisition of Marketo. In the long-run, a near-term earnings miss due to M&A won't affect the company's outlook meaningfully.What is important is that Adobe is no longer just the world's best image-software company; it now offers a broader business solutions package. Adobe purchased both Marketo and Magento recently. Marketo does B2B marketing while Magento offers digital-marketing solutions. By offering its customers a rich suite of software solutions, Adobe has gained many synergies.Adobe's revenue jumped nearly 25% last year. Probably not coincidentally, Adobe stock rallied 29% in 2018. Investors tend to price a company like Adobe based on its sales, so it makes sense that ADBE stock rose during a year in which its revenue surged. However, the situation could change in 2019. Adobe Stock Is ExpensiveThose who are bearish on ADBE stock can point out an obvious, if true, statement: Adobe stock is really pricey. On a trailing basis, Adobe stock has a price-earnings ratio of 50. Now, to be fair, ADBE had some one-tine costs in 2018. But the company's forward P/E ratio stands at 27. That's still quite pricey, especially since analysts have already baked healthy growth into their 2019 projections.On a price-sales basis, ADBE stock looks even more expensive. It is currently going for more than 14 times its sales. The normal rule of thumb for fast-growing tech stocks is that they are valued fairly if they're trading at ten times their sales.Consider that even if Adobe's revenue jumps 24% again in 2019, it will still be selling for a touch over ten times its sales. Various peers of Adobe are selling for between eight and ten times their sales at the moment, suggesting that Adobe stock price could drop considerably if the valuation of ADBE stock drops to levels that are more in-line with the rest of the tech sector. How Much Can the Experience Cloud Grow?The big question for ADBE stock, at least for long-term investors, is how far its so-called experience cloud can run. After integrating Marketo, Magento, Tubemogul, and other acquisitions, Adobe is now seen as a leader in the still-emerging marketing-cloud space. As is often the case in tech, Adobe's first- mover advantage in that area appears to be huge.Bulls are buying up Adobe stock because of their belief that the company will become the entrenched leader in the space. Even so, it's worth asking just how much that achievement would be worth. Consider that the shares of the current leader of the marketing-software space, Salesfore.com (NYSE:CRM), are selling for just 9.5 times its sales.Adobe stock would have to drop around 30% to reach Salesforce's valuation. And Salesforce isn't exactly considered a value stock ,either. Salesforce has posted average annual revenue growth of 28% over the past five years, and analysts don't expect that to change much. Does Adobe stock deserve such a large premium over Salesforce's shares? The Verdict on Adobe StockGiven the great enthusiasm we are seeing for tech and software stocks, it seems tempting to hold Adobe stock into its earnings which are slated to be announced next month. However, I'd urge investors to be cautious about ADBE stock. Much of the recent gains of Adobe stock price have been triggered by the rallies of other cloud names.But Adobe still has to prove its own merits. Analysts will be looking at the company's M&A costs closely. And with 25% revenue growth already baked into investors' expectations, Adobe stock may not have all that much room to advance further even if its numbers are relatively strong.With tech stocks on fire, it seems like a good time to take some chips off the table, whether we're talking about ADBE stock or other names in the sector that are making fresh, new all-time highs.At the time of this writing, Ian Bezek held no positions in any of the aforementioned securities. You can reach him on Twitter at @irbezek. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The 7 Best Video Game Stocks to Power Up Your Portfolio! * 7 Forever Stocks to Buy for Long-Term Gains * 5 Self-Driving Car Stocks to Buy Compare Brokers The post Investors Should Sell Adobe Stock appeared first on InvestorPlace.
The best mutual funds just invested over $1 billion each in Netflix and Splunk, taking big positions in Veeva, Atlassian and ServiceNow as well.
Veeva Systems, Splunk, Horizon Pharma, Incyte, and Ciena are among 17 highly rated stocks expecting 52% to 2,200% Q4 earnings growth.