Atlassian Co. PLC (NASDAQ:TEAM) Expected to Post Quarterly Sales of $351.49 Million

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Equities analysts expect Atlassian Co. PLC (NASDAQ:TEAM) to post $351.49 million in sales for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for Atlassian’s earnings. The highest sales estimate is $353.60 million and the lowest is $349.60 million. Atlassian reported sales of $267.29 million during the same quarter last year, which would suggest a positive year over year growth rate of 31.5%. The business is expected to report its next quarterly earnings results on Thursday, October 17th.

According to Zacks, analysts expect that Atlassian will report full year sales of $1.55 billion for the current fiscal year, with estimates ranging from $1.54 billion to $1.57 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.95 billion, with estimates ranging from $1.90 billion to $2.04 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Atlassian.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, July 25th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.26. Atlassian had a negative return on equity of 2.45% and a negative net margin of 52.69%. The firm had revenue of $334.59 million for the quarter, compared to analyst estimates of $330.60 million. During the same period in the previous year, the company posted $0.14 earnings per share. The company’s quarterly revenue was up 35.7% compared to the same quarter last year.

Several research firms recently weighed in on TEAM. TheStreet cut Atlassian from a “c-” rating to a “d” rating in a research note on Thursday, July 25th. Deutsche Bank increased their price objective on shares of Atlassian from $114.00 to $135.00 and gave the company a “hold” rating in a research report on Thursday, June 13th. Morgan Stanley raised shares of Atlassian from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $99.00 to $145.00 in a research report on Thursday, May 23rd. BidaskClub raised shares of Atlassian from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 10th. Finally, BMO Capital Markets increased their price target on shares of Atlassian from $110.00 to $150.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. They noted that the move was a valuation call. Nine research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Atlassian has an average rating of “Buy” and an average price target of $138.27.

TEAM stock traded up $0.01 during trading on Thursday, hitting $139.50. 876,323 shares of the company’s stock were exchanged, compared to its average volume of 1,608,857. The business has a 50-day moving average price of $138.17 and a two-hundred day moving average price of $120.75. The stock has a market capitalization of $14.73 billion, a price-to-earnings ratio of -820.59, a PEG ratio of 104.08 and a beta of 1.30. Atlassian has a 52-week low of $65.17 and a 52-week high of $149.80. The company has a current ratio of 0.88, a quick ratio of 3.34 and a debt-to-equity ratio of 1.22.

A number of large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its position in shares of Atlassian by 22.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 11,208,294 shares of the technology company’s stock worth $1,466,493,000 after purchasing an additional 2,059,713 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Atlassian by 19.6% in the 2nd quarter. Renaissance Technologies LLC now owns 4,607,600 shares of the technology company’s stock valued at $602,858,000 after purchasing an additional 756,100 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Atlassian by 24.8% in the 1st quarter. BlackRock Inc. now owns 3,197,364 shares of the technology company’s stock valued at $359,352,000 after purchasing an additional 636,089 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Atlassian by 54.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,144,350 shares of the technology company’s stock valued at $412,036,000 after acquiring an additional 1,113,490 shares during the last quarter. Finally, Pendal Group Ltd acquired a new stake in Atlassian in the 2nd quarter valued at about $347,020,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Company Profile

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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Earnings History and Estimates for Atlassian (NASDAQ:TEAM)

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