Analysts predict that Atlassian Co. Plc (NASDAQ:TEAM) will report $521.61 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Atlassian's earnings, with estimates ranging from $514.80 million to $526.90 million. Atlassian reported sales of $430.48 million in the same quarter last year, which indicates a positive year over year growth rate of 21.2%. The business is scheduled to issue its next earnings results after the market closes on Thursday, July 29th.
On average, analysts expect that Atlassian will report full year sales of $2.05 billion for the current year, with estimates ranging from $2.04 billion to $2.06 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.33 billion, with estimates ranging from $2.25 billion to $2.47 billion. Zacks Investment Research's sales calculations are an average based on a survey of sell-side research firms that cover Atlassian.
Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, April 29th. The technology company reported $0.09 EPS for the quarter. Atlassian had a negative net margin of 44.31% and a positive return on equity of 7.89%. The business had revenue of $568.73 million for the quarter, compared to the consensus estimate of $569.20 million.
Several analysts recently weighed in on the stock. Macquarie lifted their price objective on shares of Atlassian from $263.00 to $270.00 and gave the company an "outperform" rating in a research report on Friday, April 30th. Robert W. Baird boosted their target price on shares of Atlassian from $270.00 to $290.00 and gave the stock an "outperform" rating in a report on Tuesday, June 29th. Cowen downgraded shares of Atlassian from an "outperform" rating to a "market perform" rating and set a $260.00 target price on the stock. in a report on Thursday. They noted that the move was a valuation call. Jefferies Financial Group dropped their target price on shares of Atlassian from $250.00 to $240.00 and set a "hold" rating on the stock in a research report on Tuesday, May 18th. They noted that the move was a valuation call. Finally, Oppenheimer reissued a "buy" rating and issued a $350.00 target price on shares of Atlassian in a research report on Friday, April 30th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Atlassian presently has a consensus rating of "Buy" and an average target price of $265.81.
A number of large investors have recently added to or reduced their stakes in the business. Raymond James Trust N.A. lifted its holdings in shares of Atlassian by 27.6% in the 2nd quarter. Raymond James Trust N.A. now owns 3,842 shares of the technology company's stock worth $987,000 after purchasing an additional 830 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in shares of Atlassian by 3.2% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 1,258 shares of the technology company's stock valued at $323,000 after purchasing an additional 39 shares during the last quarter. Belmont Capital LLC purchased a new stake in shares of Atlassian during the 2nd quarter valued at $128,000. Vivid Financial Management Inc. increased its position in shares of Atlassian by 98.9% during the 2nd quarter. Vivid Financial Management Inc. now owns 2,369 shares of the technology company's stock valued at $609,000 after purchasing an additional 1,178 shares during the last quarter. Finally, Fulton Bank N.A. increased its position in shares of Atlassian by 108.2% during the 2nd quarter. Fulton Bank N.A. now owns 1,997 shares of the technology company's stock valued at $513,000 after purchasing an additional 1,038 shares during the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.
Shares of TEAM stock opened at $269.13 on Friday. Atlassian has a 1-year low of $160.01 and a 1-year high of $275.67. The business's fifty day moving average is $247.79. The firm has a market cap of $35.57 billion, a price-to-earnings ratio of -76.68, a P/E/G ratio of 334.52 and a beta of 0.84.
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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