Zacks: Analysts Anticipate Atlassian Co. PLC (NASDAQ:TEAM) Will Announce Earnings of $0.27 Per Share

Brokerages expect Atlassian Co. PLC (NASDAQ:TEAM) to announce $0.27 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Atlassian’s earnings, with estimates ranging from $0.27 to $0.28. Atlassian posted earnings of $0.25 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 8%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Thursday, January 23rd.

On average, analysts expect that Atlassian will report full-year earnings of $1.02 per share for the current fiscal year, with EPS estimates ranging from $0.99 to $1.09. For the next year, analysts expect 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 calculations are a mean average based on a survey of sell-side research analysts that cover 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 analysts’ consensus estimates of $0.24 by $0.04. The business had revenue of $363.40 million during the quarter, compared to the consensus estimate of $351.79 million. Atlassian had a negative net margin of 24.95% and a negative return on equity of 2.76%. The company’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.20 EPS.

Several analysts have recently commented on the stock. Zacks Investment Research raised shares of Atlassian from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 24th. Cleveland Research began coverage on Atlassian in a report on Friday, December 20th. They issued a “buy” rating and a $132.00 target price on the stock. Cowen reiterated a “buy” rating on shares of Atlassian in a report on Friday, October 18th. BidaskClub upgraded Atlassian from a “hold” rating to a “buy” rating in a report on Saturday. Finally, SunTrust Banks began coverage on Atlassian in a report on Wednesday, October 2nd. They issued a “buy” rating and a $162.00 target price on the stock. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $142.65.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Roman Butler Fullerton & Co. grew its holdings in Atlassian by 2.5% during the 3rd quarter. Roman Butler Fullerton & Co. now owns 5,010 shares of the technology company’s stock valued at $628,000 after buying an additional 120 shares in the last quarter. IBM Retirement Fund grew its holdings in shares of Atlassian by 7.8% during the fourth quarter. IBM Retirement Fund now owns 1,733 shares of the technology company’s stock worth $209,000 after purchasing an additional 125 shares in the last quarter. Comerica Bank grew its holdings in shares of Atlassian by 3.9% during the third quarter. Comerica Bank now owns 3,408 shares of the technology company’s stock worth $386,000 after purchasing an additional 129 shares in the last quarter. Delta Investment Management LLC grew its holdings in shares of Atlassian by 0.8% during the third quarter. Delta Investment Management LLC now owns 17,870 shares of the technology company’s stock worth $2,241,000 after purchasing an additional 141 shares in the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of Atlassian by 7.9% during the second quarter. Prudential Financial Inc. now owns 2,720 shares of the technology company’s stock worth $356,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 87.04% of the company’s stock.

Shares of TEAM stock opened at $134.22 on Friday. The company has a market cap of $16.33 billion, a price-to-earnings ratio of -789.53, a price-to-earnings-growth ratio of 130.61 and a beta of 1.24. Atlassian has a 52 week low of $87.18 and a 52 week high of $149.80. The firm has a 50 day moving average of $124.02 and a 200-day moving average of $129.22.

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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