Brokerages forecast that Atlassian Co. PLC (NASDAQ:TEAM) will report earnings per share of $0.27 for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Atlassian’s earnings, with the lowest EPS estimate coming in at $0.27 and the highest estimate coming in at $0.28. Atlassian reported earnings of $0.25 per share during the same quarter last year, which would suggest a positive year over year growth rate of 8%. The business is scheduled to report its next earnings results on Thursday, January 16th.
According to Zacks, analysts expect that Atlassian will report full year earnings of $1.02 per share for the current year, with EPS estimates ranging from $0.99 to $1.09. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.30 per share, with EPS estimates ranging from $1.23 to $1.38. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Atlassian.
Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, October 17th. The technology company reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.04. Atlassian had a negative return on equity of 2.76% and a negative net margin of 24.95%. The company had revenue of $363.40 million for the quarter, compared to the consensus estimate of $351.79 million. During the same period in the previous year, the business earned $0.20 earnings per share. Atlassian’s quarterly revenue was up 36.0% compared to the same quarter last year.
A number of research firms have recently weighed in on TEAM. Needham & Company LLC reaffirmed a “hold” rating on shares of Atlassian in a research report on Sunday, October 20th. KeyCorp set a $150.00 target price on shares of Atlassian and gave the stock a “buy” rating in a report on Friday, October 18th. BidaskClub raised shares of Atlassian from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th. Bank of America upgraded shares of Atlassian from a “neutral” rating to a “buy” rating in a research note on Monday, October 28th. Finally, Mizuho set a $152.00 price target on shares of Atlassian and gave the company a “buy” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $141.44.
TEAM traded up $0.11 during midday trading on Thursday, reaching $120.95. The company had a trading volume of 34,520 shares, compared to its average volume of 1,116,681. The business has a 50-day moving average of $121.25 and a two-hundred day moving average of $130.33. Atlassian has a 1 year low of $75.55 and a 1 year high of $149.80. The company has a market cap of $15.50 billion, a P/E ratio of -714.41, a P/E/G ratio of 123.98 and a beta of 1.28.
A number of institutional investors and hedge funds have recently made changes to their positions in TEAM. Price T Rowe Associates Inc. MD lifted its holdings in shares of Atlassian by 22.5% in the second 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 buying an additional 2,059,713 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Atlassian by 19.6% during the second quarter. Renaissance Technologies LLC now owns 4,607,600 shares of the technology company’s stock worth $602,858,000 after acquiring an additional 756,100 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Atlassian by 54.8% during the second quarter. JPMorgan Chase & Co. now owns 3,144,350 shares of the technology company’s stock worth $412,036,000 after acquiring an additional 1,113,490 shares during the last quarter. Pendal Group Ltd purchased a new position in Atlassian during the second quarter valued at $347,020,000. Finally, Morgan Stanley grew its stake in Atlassian by 168.3% during the second quarter. Morgan Stanley now owns 2,139,661 shares of the technology company’s stock valued at $279,953,000 after acquiring an additional 1,342,168 shares in the last quarter. 87.09% of the stock is owned by institutional investors and hedge funds.
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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