Brokerages expect Atlassian Co. PLC (NASDAQ:TEAM) to post $259.40 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Atlassian’s earnings. The highest sales estimate is $260.83 million and the lowest is $259.00 million. Atlassian reported sales of $193.82 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 33.8%. The company is expected to report its next earnings results on Thursday, October 18th.
According to Zacks, analysts expect that Atlassian will report full-year sales of $1.15 billion for the current fiscal year. For the next financial year, analysts forecast that the firm will post sales of $1.45 billion per share, with estimates ranging from $1.42 billion to $1.47 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Atlassian.
Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, July 26th. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. Atlassian had a negative net margin of 13.65% and a negative return on equity of 2.30%. The business had revenue of $243.80 million during the quarter, compared to analyst estimates of $233.42 million. During the same quarter in the previous year, the business earned $0.09 EPS. Atlassian’s quarterly revenue was up 39.9% compared to the same quarter last year.
Several equities research analysts recently issued reports on the stock. Cowen reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Atlassian in a research note on Friday, July 27th. Canaccord Genuity reissued a “buy” rating and set a $85.00 target price (up previously from $65.00) on shares of Atlassian in a research report on Friday, July 27th. BMO Capital Markets boosted their target price on shares of Atlassian from $64.00 to $82.00 and gave the stock a “market perform” rating in a research report on Friday, July 27th. They noted that the move was a valuation call. Jefferies Financial Group boosted their target price on shares of Atlassian to $70.00 and gave the stock a “hold” rating in a research report on Friday, July 27th. Finally, ValuEngine raised shares of Atlassian from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $70.00.
A number of institutional investors have recently added to or reduced their stakes in TEAM. Citigroup Inc. bought a new position in shares of Atlassian during the 1st quarter worth about $103,000. Parametrica Management Ltd bought a new position in shares of Atlassian during the 1st quarter worth about $202,000. Comerica Bank bought a new position in shares of Atlassian during the 1st quarter worth about $210,000. Delpha Capital Management LLC bought a new position in shares of Atlassian during the 1st quarter worth about $212,000. Finally, Domini Impact Investments LLC bought a new position in shares of Atlassian during the 1st quarter worth about $216,000. 89.41% of the stock is owned by hedge funds and other institutional investors.
Shares of TEAM stock traded down $0.24 on Friday, hitting $78.07. The company’s stock had a trading volume of 865,379 shares, compared to its average volume of 1,478,068. Atlassian has a fifty-two week low of $33.16 and a fifty-two week high of $79.82. The firm has a market cap of $7.80 billion, a PE ratio of -1,115.29, a PEG ratio of 80.57 and a beta of 2.44.
Atlassian Company Profile
Atlassian Corporation Plc, through its subsidiaries, provides team collaboration and productivity software solutions worldwide. It offers project tracking, content creation and sharing, real-time communication, and service management products to large and small organizations. 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; HipChat that provides teams a way to communicate in real-time and share ideas, updates, codes, and files; Trello, a Web-based project management application for capturing and adding structure to fluid and fast-forming work for teams; Bitbucket, a code management and collaboration product for teams using distributed version control systems; and JIRA Service Desk, a service desk product for creating and managing service experiences for various service team providers, including IT help desks, and legal and HR teams.
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