Brokerages Anticipate Atlassian Co. PLC (TEAM) Will Post Quarterly Sales of $288.24 Million

Wall Street brokerages expect Atlassian Co. PLC (NASDAQ:TEAM) to post $288.24 million in sales for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Atlassian’s earnings. The highest sales estimate is $288.99 million and the lowest is $287.75 million. Atlassian posted sales of $212.63 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 35.6%. The firm is expected to report its next earnings results on Thursday, January 17th.

On average, analysts expect that Atlassian will report full year sales of $1.18 billion for the current financial year. For the next financial year, analysts anticipate that the business will post sales of $1.49 billion, with estimates ranging from $1.47 billion to $1.52 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Atlassian.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 18th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $267.30 million for the quarter, compared to analysts’ expectations of $259.67 million. Atlassian had a negative net margin of 36.71% and a negative return on equity of 0.75%. The firm’s quarterly revenue was up 36.7% compared to the same quarter last year. During the same period last year, the firm posted $0.12 earnings per share.

A number of brokerages recently issued reports on TEAM. Zacks Investment Research raised shares of Atlassian from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a research note on Friday, November 9th. DA Davidson lifted their price objective on shares of Atlassian from $88.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, September 5th. Jefferies Financial Group lifted their price objective on shares of Atlassian to $83.00 and gave the company a “hold” rating in a research note on Tuesday, September 4th. BidaskClub cut shares of Atlassian from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 5th. Finally, Cowen lifted their price objective on shares of Atlassian from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, September 13th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Atlassian presently has an average rating of “Buy” and a consensus price target of $82.00.

Shares of NASDAQ:TEAM opened at $85.94 on Wednesday. The company has a market capitalization of $8.91 billion, a P/E ratio of -1,227.71, a PEG ratio of 70.62 and a beta of 2.73. The company has a current ratio of 4.17, a quick ratio of 4.17 and a debt-to-equity ratio of 1.16. Atlassian has a 1 year low of $43.11 and a 1 year high of $98.21.

A number of institutional investors have recently modified their holdings of TEAM. FNY Investment Advisers LLC acquired a new stake in Atlassian in the third quarter valued at approximately $120,000. GWM Advisors LLC acquired a new position in shares of Atlassian during the third quarter worth $214,000. GAM Holding AG acquired a new position in shares of Atlassian during the third quarter worth $217,000. Oppenheimer & Co. Inc. acquired a new position in shares of Atlassian during the second quarter worth $218,000. Finally, Prudential Financial Inc. acquired a new position in shares of Atlassian during the third quarter worth $221,000. Hedge funds and other institutional investors own 89.43% of the company’s stock.

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.

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