Brokerages predict that Atlassian Corporation PLC (NASDAQ:TEAM) will announce $204.40 million in sales for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Atlassian Corporation PLC’s earnings, with the lowest sales estimate coming in at $204.00 million and the highest estimate coming in at $205.00 million. Atlassian Corporation PLC posted sales of $148.91 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 37.3%. The company is scheduled to report its next quarterly earnings results on Thursday, January 18th.

On average, analysts expect that Atlassian Corporation PLC will report full-year sales of $204.40 million for the current fiscal year, with estimates ranging from $844.10 million to $846.04 million. For the next financial year, analysts forecast that the company will post sales of $1.08 billion per share, with estimates ranging from $1.07 billion to $1.13 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Atlassian Corporation PLC.

Atlassian Corporation PLC (NASDAQ:TEAM) last released its earnings results on Thursday, October 19th. The technology company reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.17. Atlassian Corporation PLC had a negative net margin of 7.96% and a negative return on equity of 2.11%. The company had revenue of $193.80 million for the quarter, compared to the consensus estimate of $185.78 million. During the same quarter in the previous year, the company earned $0.10 EPS. Atlassian Corporation PLC’s quarterly revenue was up 41.7% compared to the same quarter last year.

TEAM has been the subject of a number of research analyst reports. BMO Capital Markets raised their price target on Atlassian Corporation PLC from $33.00 to $40.00 and gave the stock a “market perform” rating in a research note on Friday, July 7th. Zacks Investment Research raised Atlassian Corporation PLC from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Friday, July 14th. Morgan Stanley raised Atlassian Corporation PLC from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $35.00 to $45.00 in a research report on Tuesday, July 25th. Cowen and Company reissued a “buy” rating and set a $43.00 price objective on shares of Atlassian Corporation PLC in a research report on Friday, July 28th. Finally, BTIG Research reissued a “neutral” rating on shares of Atlassian Corporation PLC in a research report on Tuesday, August 15th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $49.20.

Institutional investors and hedge funds have recently bought and sold shares of the company. Royce & Associates LP purchased a new position in shares of Atlassian Corporation PLC in the 2nd quarter worth about $2,885,000. Wells Fargo & Company MN raised its position in shares of Atlassian Corporation PLC by 3,340.5% in the 2nd quarter. Wells Fargo & Company MN now owns 365,104 shares of the technology company’s stock worth $12,844,000 after purchasing an additional 354,492 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Atlassian Corporation PLC by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 55,951 shares of the technology company’s stock worth $1,676,000 after purchasing an additional 480 shares during the last quarter. Rhumbline Advisers raised its position in shares of Atlassian Corporation PLC by 189.3% in the 2nd quarter. Rhumbline Advisers now owns 78,226 shares of the technology company’s stock worth $2,752,000 after purchasing an additional 51,182 shares during the last quarter. Finally, First Trust Advisors LP purchased a new position in shares of Atlassian Corporation PLC in the 2nd quarter worth about $6,893,000. 78.54% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: This report was originally published by American Banking News and is the property of of American Banking News. If you are viewing this report on another site, it was copied illegally and reposted in violation of United States and international trademark & copyright law. The original version of this report can be viewed at https://www.americanbankingnews.com/2017/10/30/204-40-million-in-sales-expected-for-atlassian-corporation-plc-team-this-quarter.html.

Atlassian Corporation PLC (NASDAQ TEAM) opened at 47.03 on Monday. The company’s 50 day moving average is $38.87 and its 200-day moving average is $36.21. Atlassian Corporation PLC has a 52-week low of $23.80 and a 52-week high of $50.88. The firm’s market cap is $10.69 billion.

About Atlassian Corporation PLC

Atlassian Corporation Plc is a holding company. The Company offers a range of team collaboration products. The Company offers products, including JIRA, Confluence, HipChat, Bitbucket and JIRA Service Desk, for software developers, information technology (IT) managers and knowledge workers. The Company offers JIRA for team planning and project management; Confluence for team content creation and sharing; HipChat for team real-time messaging and communications; Bitbucket for team code sharing and management, and JIRA Service Desk for team service and support applications.

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

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

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