Brokerages Anticipate Atlassian Co. PLC (TEAM) Will Post Quarterly Sales of $304.09 Million

Equities analysts expect Atlassian Co. PLC (NASDAQ:TEAM) to report $304.09 million in sales for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Atlassian’s earnings. The highest sales estimate is $304.98 million and the lowest is $301.50 million. Atlassian posted sales of $223.72 million in the same quarter last year, which suggests a positive year over year growth rate of 35.9%. The business is scheduled to issue its next quarterly earnings report 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 fiscal year, analysts expect that the business will report sales of $1.53 billion, with estimates ranging from $1.48 billion to $1.57 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Atlassian.

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

Several research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Thursday, March 14th. DA Davidson upped their target price on shares of Atlassian to $126.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Mizuho assumed coverage on shares of Atlassian in a research note on Wednesday, March 13th. They issued a “buy” rating and a $120.00 target price for the company. BidaskClub downgraded shares of Atlassian from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 19th. Finally, Bank of America set a $97.00 target price on shares of Atlassian and gave the company a “hold” rating in a research note on Wednesday, January 16th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $107.50.

A number of hedge funds and other institutional investors have recently bought and sold shares of TEAM. Parallel Advisors LLC bought a new position in Atlassian during the 4th quarter valued at $25,000. Cornerstone Advisors Inc. bought a new position in shares of Atlassian in the 4th quarter worth about $29,000. Meeder Asset Management Inc. bought a new position in shares of Atlassian in the 4th quarter worth about $50,000. Financial Architects Inc lifted its position in shares of Atlassian by 159.1% in the 4th quarter. Financial Architects Inc now owns 570 shares of the technology company’s stock worth $51,000 after buying an additional 350 shares during the last quarter. Finally, WealthTrust Arizona LLC lifted its position in shares of Atlassian by 23.4% in the 4th quarter. WealthTrust Arizona LLC now owns 580 shares of the technology company’s stock worth $52,000 after buying an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 91.22% of the company’s stock.

Shares of TEAM stock traded up $3.93 on Friday, hitting $112.39. The stock had a trading volume of 1,238,794 shares, compared to its average volume of 1,679,026. The company has a market capitalization of $11.52 billion, a PE ratio of -1,605.57, a price-to-earnings-growth ratio of 96.06 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 52-week low of $51.76 and a 52-week high of $115.88.

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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