Zacks: Brokerages Anticipate Atlassian Co. PLC (TEAM) Will Announce Quarterly Sales of $304.07 Million

Equities analysts predict that Atlassian Co. PLC (NASDAQ:TEAM) will report sales of $304.07 million for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have made estimates for Atlassian’s earnings, with the lowest sales estimate coming in at $301.50 million and the highest estimate coming in at $304.98 million. Atlassian reported sales of $223.72 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 35.9%. The firm is expected to announce its next quarterly earnings results on Thursday, April 18th.

According to Zacks, analysts expect that Atlassian will report full year sales of $1.20 billion for the current fiscal year, with estimates ranging from $1.18 billion to $1.20 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.53 billion, with estimates ranging from $1.48 billion to $1.57 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Atlassian.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, January 17th. The technology company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.15). Atlassian had a negative net margin of 22.96% and a positive return on equity of 3.01%. The company had revenue of $299.00 million during the quarter, compared to the consensus estimate of $288.28 million. During the same period in the prior year, the firm posted $0.13 earnings per share. The company’s revenue was up 40.6% compared to the same quarter last year.

A number of research firms have commented on TEAM. BidaskClub upgraded shares of Atlassian from a “buy” rating to a “strong-buy” rating in a report on Monday, February 4th. Bank of America set a $97.00 price objective on shares of Atlassian and gave the company a “hold” rating in a research note on Wednesday, January 16th. Morgan Stanley lowered shares of Atlassian from an “equal” rating to a “weight” rating in a report on Tuesday, January 15th. Robert W. Baird upped their target price on shares of Atlassian from $88.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, January 18th. Finally, BMO Capital Markets restated a “market perform” rating and set a $100.00 target price (up previously from $82.00) on shares of Atlassian in a research note on Friday, January 18th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $103.45.

Several institutional investors and hedge funds have recently bought and sold shares of the company. WealthTrust Arizona LLC lifted its holdings in shares of Atlassian by 23.4% in the 4th quarter. WealthTrust Arizona LLC now owns 580 shares of the technology company’s stock valued at $52,000 after buying an additional 110 shares during the period. World Asset Management Inc raised its holdings in shares of Atlassian by 8.4% in the fourth quarter. World Asset Management Inc now owns 2,272 shares of the technology company’s stock worth $202,000 after acquiring an additional 176 shares during the last quarter. Prudential Financial Inc. raised its holdings in shares of Atlassian by 8.7% in the fourth quarter. Prudential Financial Inc. now owns 2,500 shares of the technology company’s stock worth $222,000 after acquiring an additional 200 shares during the last quarter. Public Employees Retirement Association of Colorado grew its position in shares of Atlassian by 6.8% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 3,621 shares of the technology company’s stock valued at $322,000 after purchasing an additional 229 shares during the period. Finally, Parallel Advisors LLC purchased a new stake in shares of Atlassian in the fourth quarter valued at $25,000. 88.78% of the stock is owned by institutional investors and hedge funds.

Shares of Atlassian stock traded up $0.23 on Wednesday, reaching $104.57. 1,384,072 shares of the stock were exchanged, compared to its average volume of 1,962,595. The company has a market cap of $11.08 billion, a PE ratio of -1,493.86, a price-to-earnings-growth ratio of 93.68 and a beta of 1.85. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 1.02. Atlassian has a one year low of $50.06 and a one year high of $106.40.

About Atlassian

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.

Read More: Certificate of Deposit (CD)

Get a free copy of the Zacks research report on Atlassian (TEAM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Atlassian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atlassian and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply