Brokerages predict that Atlassian Co. PLC (NASDAQ:TEAM) will report $218.24 million in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Atlassian’s earnings, with estimates ranging from $218.00 million to $218.61 million. Atlassian posted sales of $159.91 million in the same quarter last year, which suggests a positive year over year growth rate of 36.5%. The business is scheduled to report its next earnings results on Thursday, April 26th.
According to Zacks, analysts expect that Atlassian will report full-year sales of $218.24 million for the current fiscal year, with estimates ranging from $846.04 million to $856.58 million. For the next fiscal year, analysts expect that the business will report sales of $1.10 billion per share, with estimates ranging from $1.07 billion to $1.15 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Atlassian.
A number of research analysts recently issued reports on the stock. Jefferies Group raised their target price on shares of Atlassian to $53.00 and gave the company a “buy” rating in a research note on Friday, October 20th. BidaskClub raised shares of Atlassian from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 18th. Zacks Investment Research downgraded shares of Atlassian from a “hold” rating to a “sell” rating in a report on Wednesday, January 24th. Guggenheim reissued a “hold” rating and issued a $50.00 price target on shares of Atlassian in a report on Friday, January 19th. Finally, Oppenheimer increased their price target on shares of Atlassian to $58.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $55.90.
A number of institutional investors have recently modified their holdings of the business. Nicholas Investment Partners LP bought a new stake in Atlassian in the 4th quarter valued at $1,854,000. Tocqueville Asset Management L.P. bought a new position in shares of Atlassian during the 4th quarter worth about $319,000. Renaissance Technologies LLC lifted its holdings in shares of Atlassian by 52.1% during the 4th quarter. Renaissance Technologies LLC now owns 2,153,200 shares of the technology company’s stock worth $98,014,000 after acquiring an additional 737,658 shares during the period. Koch Industries Inc. bought a new position in shares of Atlassian during the 4th quarter worth about $462,000. Finally, Alliancebernstein L.P. lifted its holdings in shares of Atlassian by 2.9% during the 4th quarter. Alliancebernstein L.P. now owns 41,592 shares of the technology company’s stock worth $1,893,000 after acquiring an additional 1,170 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.
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Atlassian Company Profile
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.
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