Zacks: Analysts Anticipate Atlassian Co. Plc (NASDAQ:TEAM) Will Announce Quarterly Sales of $583.29 Million

Wall Street analysts expect that Atlassian Co. Plc (NASDAQ:TEAM) will announce sales of $583.29 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Atlassian’s earnings, with the lowest sales estimate coming in at $582.20 million and the highest estimate coming in at $585.30 million. Atlassian reported sales of $459.51 million in the same quarter last year, which would suggest a positive year over year growth rate of 26.9%. The company is expected to issue its next quarterly earnings results on Thursday, November 4th.

On average, analysts expect that Atlassian will report full year sales of $2.52 billion for the current fiscal year, with estimates ranging from $2.50 billion to $2.54 billion. For the next year, analysts anticipate that the company will post sales of $3.12 billion, with estimates ranging from $2.99 billion to $3.24 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Atlassian.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Wednesday, July 28th. The technology company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.06. The company had revenue of $559.54 million during the quarter, compared to analyst estimates of $521.61 million. Atlassian had a positive return on equity of 10.09% and a negative net margin of 33.33%.

Several brokerages recently weighed in on TEAM. Robert W. Baird increased their price objective on Atlassian from $345.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 8th. Piper Sandler increased their price objective on Atlassian from $259.00 to $308.00 and gave the stock an “overweight” rating in a research report on Friday, July 30th. Cowen lowered Atlassian from an “outperform” rating to a “market perform” rating and set a $260.00 price objective for the company. in a research report on Thursday, July 22nd. They noted that the move was a valuation call. Mizuho increased their price objective on Atlassian from $310.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, July 30th. Finally, Canaccord Genuity raised their price target on Atlassian from $275.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, July 30th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $299.67.

A number of large investors have recently added to or reduced their stakes in the stock. SRS Capital Advisors Inc. acquired a new stake in Atlassian in the second quarter valued at $25,000. MV Capital Management Inc. acquired a new stake in Atlassian in the second quarter valued at $26,000. Lloyd Advisory Services LLC. raised its stake in Atlassian by 45.7% in the second quarter. Lloyd Advisory Services LLC. now owns 134 shares of the technology company’s stock valued at $34,000 after buying an additional 42 shares in the last quarter. BerganKDV Wealth Management LLC raised its stake in Atlassian by 48.5% in the second quarter. BerganKDV Wealth Management LLC now owns 153 shares of the technology company’s stock valued at $39,000 after buying an additional 50 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in Atlassian by 45.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 154 shares of the technology company’s stock valued at $40,000 after buying an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 85.92% of the company’s stock.

Atlassian stock traded up $2.29 during mid-day trading on Friday, hitting $408.27. The company’s stock had a trading volume of 26,217 shares, compared to its average volume of 1,304,921. The firm has a market capitalization of $56.06 billion, a PE ratio of -144.99, a price-to-earnings-growth ratio of 62.83 and a beta of 0.84. Atlassian has a 1 year low of $172.80 and a 1 year high of $420.23. The stock’s fifty day moving average is $337.18 and its two-hundred day moving average is $270.64.

About Atlassian

Atlassian Corp. Plc is a holding company, which engages in the design, development, license, and maintenance of software and provision software hosting services. Its products include Jira software, align, core, and Service Desk, Confluence, Trello, Bitbucket, Sourcetree, bamboo, opsgenie, and statuspage.

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Earnings History and Estimates for Atlassian (NASDAQ:TEAM)

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