Wall Street brokerages expect Atlassian Co. PLC (NASDAQ:TEAM) to post $330.53 million in sales for the current quarter, according to Zacks. Nine analysts have made estimates for Atlassian’s earnings, with the lowest sales estimate coming in at $330.00 million and the highest estimate coming in at $331.80 million. Atlassian reported sales of $243.78 million in the same quarter last year, which indicates a positive year-over-year growth rate of 35.6%. The business is scheduled to issue its next earnings report on Thursday, July 25th.

According to Zacks, analysts expect that Atlassian will report full year sales of $1.21 billion for the current year. For the next year, analysts forecast that the company will report sales of $1.55 billion, with estimates ranging from $1.52 billion to $1.59 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Atlassian.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Wednesday, April 17th. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.26). The firm had revenue of $309.30 million during the quarter, compared to analyst estimates of $304.68 million. Atlassian had a positive return on equity of 1.34% and a negative net margin of 38.06%. Atlassian’s revenue was up 37.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 EPS.

TEAM has been the subject of several research reports. Zacks Investment Research lowered Atlassian from a “buy” rating to a “hold” rating in a research report on Wednesday, April 17th. Deutsche Bank initiated coverage on Atlassian in a research report on Wednesday, February 27th. They issued a “hold” rating and a $114.00 target price for the company. KeyCorp lifted their target price on Atlassian from $110.00 to $121.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Mizuho lifted their target price on Atlassian from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Finally, BMO Capital Markets lifted their target price on Atlassian from $100.00 to $110.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. They noted that the move was a valuation call. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $118.87.

A number of large investors have recently added to or reduced their stakes in TEAM. Renaissance Technologies LLC boosted its position in Atlassian by 44.4% during the 1st quarter. Renaissance Technologies LLC now owns 3,851,500 shares of the technology company’s stock valued at $432,870,000 after purchasing an additional 1,183,900 shares during the period. PointState Capital LP acquired a new position in Atlassian during the 1st quarter valued at approximately $117,700,000. Norges Bank acquired a new position in Atlassian during the 4th quarter valued at approximately $79,863,000. Hsbc Holdings PLC boosted its position in Atlassian by 441.0% during the 4th quarter. Hsbc Holdings PLC now owns 797,630 shares of the technology company’s stock valued at $70,973,000 after purchasing an additional 650,185 shares during the period. Finally, BlackRock Inc. boosted its position in Atlassian by 24.8% during the 1st quarter. BlackRock Inc. now owns 3,197,364 shares of the technology company’s stock valued at $359,352,000 after purchasing an additional 636,089 shares during the period. Institutional investors and hedge funds own 92.43% of the company’s stock.

Shares of TEAM traded down $6.72 during mid-day trading on Friday, hitting $119.16. The stock had a trading volume of 1,031,093 shares, compared to its average volume of 1,772,092. The firm has a market cap of $13.37 billion, a price-to-earnings ratio of -1,702.29, a PEG ratio of 199.28 and a beta of 1.39. The company has a current ratio of 3.34, a quick ratio of 3.34 and a debt-to-equity ratio of 1.22. Atlassian has a fifty-two week low of $60.39 and a fifty-two week high of $132.87.

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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