Atlassian Co. PLC (NASDAQ:TEAM) Expected to Announce Quarterly Sales of $351.49 Million

Wall Street brokerages forecast that Atlassian Co. PLC (NASDAQ:TEAM) will report $351.49 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Atlassian’s earnings. The highest sales estimate is $353.60 million and the lowest is $349.60 million. Atlassian reported sales of $267.29 million in the same quarter last year, which indicates a positive year over year growth rate of 31.5%. The business is scheduled to report its next quarterly earnings report on Thursday, October 17th.

On average, analysts expect that Atlassian will report full-year sales of $1.55 billion for the current year, with estimates ranging from $1.54 billion to $1.57 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.95 billion, with estimates ranging from $1.90 billion to $2.04 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Atlassian.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, July 25th. The technology company reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.26. Atlassian had a negative return on equity of 2.45% and a negative net margin of 52.69%. The business had revenue of $334.59 million during the quarter, compared to analyst estimates of $330.60 million. During the same quarter in the previous year, the firm earned $0.14 EPS. Atlassian’s revenue was up 35.7% on a year-over-year basis.

Several equities research analysts recently issued reports on TEAM shares. Jefferies Financial Group increased their target price on shares of Atlassian from $105.00 to $125.00 and gave the stock a “hold” rating in a report on Friday, July 26th. They noted that the move was a valuation call. Cowen set a $152.00 price target on Atlassian and gave the stock a “buy” rating in a research note on Friday, July 26th. Bank of America restated a “neutral” rating and issued a $147.00 price target (up from $138.00) on shares of Atlassian in a research note on Friday, July 26th. Goldman Sachs Group upgraded Atlassian from a “neutral” rating to a “buy” rating and upped their price target for the stock from $115.00 to $125.00 in a research note on Thursday, May 9th. Finally, Robert W. Baird upped their price target on Atlassian from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Nine analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $138.27.

Large investors have recently added to or reduced their stakes in the stock. Avalon Advisors LLC purchased a new stake in Atlassian during the 1st quarter valued at $343,000. Telemus Capital LLC purchased a new stake in Atlassian during the 1st quarter valued at $1,124,000. State Board of Administration of Florida Retirement System raised its holdings in Atlassian by 7.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 129,523 shares of the technology company’s stock valued at $14,557,000 after buying an additional 8,490 shares during the period. Nomura Asset Management Co. Ltd. purchased a new stake in Atlassian during the 1st quarter valued at $46,574,000. Finally, NewSquare Capital LLC raised its holdings in Atlassian by 5.5% during the 1st quarter. NewSquare Capital LLC now owns 2,595 shares of the technology company’s stock valued at $292,000 after buying an additional 135 shares during the period. Institutional investors own 95.04% of the company’s stock.

Shares of NASDAQ TEAM traded up $0.01 during midday trading on Thursday, hitting $139.50. 876,323 shares of the company’s stock traded hands, compared to its average volume of 1,608,857. Atlassian has a 1 year low of $65.17 and a 1 year high of $149.80. The stock has a market capitalization of $14.73 billion, a price-to-earnings ratio of -820.59, a price-to-earnings-growth ratio of 104.08 and a beta of 1.30. The company has a debt-to-equity ratio of 1.22, a quick ratio of 3.34 and a current ratio of 0.88. The firm has a fifty day moving average of $138.17 and a 200 day moving average of $120.75.

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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Earnings History and Estimates for Atlassian (NASDAQ:TEAM)

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