Equities research analysts expect Atlassian Co. PLC (NASDAQ:TEAM) to post $288.24 million in sales for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Atlassian’s earnings. The highest sales estimate is $288.99 million and the lowest is $287.75 million. Atlassian reported sales of $212.63 million during the same quarter last year, which indicates a positive year over year growth rate of 35.6%. The company is expected to announce its next earnings results on Thursday, January 17th.
On average, analysts expect that Atlassian will report full-year sales of $1.18 billion for the current year. For the next fiscal year, analysts forecast that the firm will report sales of $1.49 billion, with estimates ranging from $1.47 billion to $1.52 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Atlassian.
Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 18th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.01. Atlassian had a negative net margin of 36.71% and a negative return on equity of 0.75%. The business had revenue of $267.30 million during the quarter, compared to the consensus estimate of $259.67 million. During the same period in the prior year, the firm posted $0.12 EPS. The firm’s quarterly revenue was up 36.7% compared to the same quarter last year.
TEAM has been the subject of a number of recent analyst reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Atlassian in a research report on Tuesday, September 4th. Summit Insights cut shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. BTIG Research upgraded shares of Atlassian from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 13th. BidaskClub upgraded shares of Atlassian from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 3rd. Finally, Zacks Investment Research upgraded shares of Atlassian from a “hold” rating to a “buy” rating and set a $97.00 target price on the stock in a research note on Saturday, September 8th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $82.00.
TEAM stock traded down $3.88 during trading on Wednesday, reaching $85.72. The stock had a trading volume of 1,745,426 shares, compared to its average volume of 1,158,083. Atlassian has a one year low of $43.11 and a one year high of $98.21. The company has a debt-to-equity ratio of 1.16, a quick ratio of 4.17 and a current ratio of 4.17. The company has a market capitalization of $9.13 billion, a price-to-earnings ratio of -1,224.57, a PEG ratio of 75.42 and a beta of 2.75.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zacks Investment Management boosted its stake in Atlassian by 5.5% in the second quarter. Zacks Investment Management now owns 17,490 shares of the technology company’s stock valued at $1,093,000 after acquiring an additional 918 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Atlassian by 1.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 77,615 shares of the technology company’s stock valued at $4,852,000 after buying an additional 960 shares in the last quarter. Motley Fool Wealth Management LLC lifted its stake in shares of Atlassian by 0.8% during the 3rd quarter. Motley Fool Wealth Management LLC now owns 137,139 shares of the technology company’s stock valued at $13,185,000 after buying an additional 1,093 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Atlassian by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 72,086 shares of the technology company’s stock valued at $4,507,000 after buying an additional 1,119 shares in the last quarter. Finally, Wedbush Securities Inc. lifted its stake in shares of Atlassian by 18.5% during the 3rd quarter. Wedbush Securities Inc. now owns 7,806 shares of the technology company’s stock valued at $750,000 after buying an additional 1,216 shares in the last quarter. Hedge funds and other institutional investors own 89.02% of the company’s stock.
Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. It provides project tracking, content creation and sharing, and service management products. The company's products include JIRA, a workflow management system that enables teams to plan, organize, track, and manage their work and projects; Confluence, a content collaboration platform that is used to create, share, organize, and discuss projects; and Trello, a Web-based project management application for capturing and adding structure to fluid, fast-forming work for teams.
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