$0.40 EPS Expected for Atlassian Co. Plc (NASDAQ:TEAM) This Quarter

Brokerages forecast that Atlassian Co. Plc (NASDAQ:TEAM) will post earnings of $0.40 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Atlassian’s earnings, with the lowest EPS estimate coming in at $0.38 and the highest estimate coming in at $0.45. Atlassian posted earnings of $0.30 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 33.3%. The firm is scheduled to report its next earnings report on Thursday, November 4th.

According to Zacks, analysts expect that Atlassian will report full year earnings of $1.58 per share for the current year, with EPS estimates ranging from $1.48 to $1.68. For the next year, analysts forecast that the firm will report earnings of $2.10 per share, with EPS estimates ranging from $1.75 to $2.33. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Atlassian.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Wednesday, July 28th. The technology company reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.06. Atlassian had a negative net margin of 33.33% and a positive return on equity of 10.09%. The business had revenue of $559.54 million during the quarter, compared to analysts’ expectations of $521.61 million.

A number of equities research analysts have recently issued reports on TEAM shares. Piper Sandler upped their price objective on shares of Atlassian from $259.00 to $308.00 and gave the company an “overweight” rating in a research note on Friday, July 30th. Mizuho increased their price target on shares of Atlassian from $310.00 to $370.00 and gave the company a “buy” rating in a research report on Friday, July 30th. Morgan Stanley increased their price target on shares of Atlassian from $292.00 to $320.00 and gave the company an “overweight” rating in a research report on Friday, July 30th. Wolfe Research started coverage on shares of Atlassian in a research report on Monday, August 30th. They set an “outperform” rating and a $400.00 price target for the company. Finally, Canaccord Genuity increased their price target on shares of Atlassian from $275.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, July 30th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Atlassian presently has a consensus rating of “Buy” and an average price target of $299.67.

TEAM stock traded down $1.43 during midday trading on Friday, reaching $402.48. The company had a trading volume of 39,313 shares, compared to its average volume of 1,298,120. Atlassian has a 1 year low of $164.16 and a 1 year high of $404.54. The company has a market capitalization of $55.26 billion, a P/E ratio of -143.59, a P/E/G ratio of 66.50 and a beta of 0.84. The firm has a 50-day moving average price of $328.78 and a 200-day moving average price of $266.65.

Several institutional investors have recently modified their holdings of the stock. Front Row Advisors LLC increased its stake in Atlassian by 13.7% during the 2nd quarter. Front Row Advisors LLC now owns 249 shares of the technology company’s stock valued at $83,000 after purchasing an additional 30 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in 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 in the last quarter. Applied Research Investments LLC increased its stake in Atlassian by 0.3% during the 2nd quarter. Applied Research Investments LLC now owns 12,007 shares of the technology company’s stock valued at $3,084,000 after purchasing an additional 41 shares in the last quarter. Lloyd Advisory Services LLC. increased its stake in Atlassian by 45.7% during the 2nd quarter. Lloyd Advisory Services LLC. now owns 134 shares of the technology company’s stock valued at $34,000 after purchasing an additional 42 shares in the last quarter. Finally, Wealth Architects LLC increased its stake in Atlassian by 4.2% during the 2nd quarter. Wealth Architects LLC now owns 1,084 shares of the technology company’s stock valued at $279,000 after purchasing an additional 44 shares in the last quarter. Institutional investors own 85.92% of the company’s stock.

About Atlassian

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.

Recommended Story: Trading Ex-Dividend Strategy

Get a free copy of the Zacks research report on Atlassian (TEAM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Atlassian (NASDAQ:TEAM)

Receive News & Ratings for Atlassian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atlassian and related companies with MarketBeat.com's FREE daily email newsletter.