Q2 2020 EPS Estimates for Atlassian Co. PLC (NASDAQ:TEAM) Cut by Analyst

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Atlassian Co. PLC (NASDAQ:TEAM) – Stock analysts at KeyCorp lowered their Q2 2020 earnings per share (EPS) estimates for shares of Atlassian in a research note issued to investors on Wednesday, June 12th. KeyCorp analyst A. Kurtz now forecasts that the technology company will post earnings per share of $0.03 for the quarter, down from their previous estimate of $0.04. KeyCorp currently has a “Overweight” rating and a $142.00 target price on the stock. KeyCorp also issued estimates for Atlassian’s FY2020 earnings at $0.12 EPS and FY2021 earnings at $0.42 EPS.

Atlassian (NASDAQ:TEAM) last released its earnings results on Wednesday, April 17th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.26). The company had revenue of $309.30 million during the quarter, compared to analyst estimates of $304.68 million. Atlassian had a negative net margin of 38.06% and a positive return on equity of 1.34%. The company’s revenue for the quarter was up 37.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 EPS.

Other research analysts have also issued research reports about the company. Canaccord Genuity boosted their target price on Atlassian from $105.00 to $125.00 and gave the company a “buy” rating in a report on Friday, April 12th. They noted that the move was a valuation call. BidaskClub raised Atlassian from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 1st. Zacks Investment Research raised Atlassian from a “strong sell” rating to a “hold” rating in a report on Friday, May 31st. Goldman Sachs Group raised Atlassian from a “neutral” rating to a “buy” rating and boosted their target price for the company from $115.00 to $125.00 in a report on Thursday, May 9th. Finally, Morgan Stanley raised Atlassian from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $99.00 to $145.00 in a report on Thursday, May 23rd. Nine investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Atlassian has a consensus rating of “Buy” and an average target price of $121.67.

NASDAQ:TEAM opened at $129.91 on Monday. The company has a market capitalization of $13.80 billion, a PE ratio of -1,855.86, a P/E/G ratio of 205.67 and a beta of 1.40. The company has a current ratio of 3.34, a quick ratio of 3.34 and a debt-to-equity ratio of 1.22. Atlassian has a 12-month low of $60.39 and a 12-month high of $137.78.

A number of hedge funds have recently made changes to their positions in the stock. Laurel Wealth Advisors Inc. lifted its position in shares of Atlassian by 3.8% in the first quarter. Laurel Wealth Advisors Inc. now owns 16,326 shares of the technology company’s stock valued at $1,835,000 after acquiring an additional 600 shares in the last quarter. Dixon Hubard Feinour & Brown Inc. VA purchased a new stake in shares of Atlassian in the first quarter valued at $1,132,000. Strategy Capital LLC lifted its position in shares of Atlassian by 112.4% in the first quarter. Strategy Capital LLC now owns 275,856 shares of the technology company’s stock valued at $31,004,000 after acquiring an additional 145,991 shares in the last quarter. Zevenbergen Capital Investments LLC purchased a new stake in shares of Atlassian in the first quarter valued at $8,135,000. Finally, Clarius Group LLC purchased a new stake in shares of Atlassian in the first quarter valued at $225,000. 92.43% 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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