Atlassian Co. PLC (TEAM) Expected to Announce Earnings of $0.21 Per Share

Brokerages expect Atlassian Co. PLC (NASDAQ:TEAM) to post earnings per share of $0.21 for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Atlassian’s earnings. Atlassian reported earnings of $0.13 per share during the same quarter last year, which indicates a positive year over year growth rate of 61.5%. The company is scheduled to issue its next earnings results after the market closes on Thursday, January 17th.

On average, analysts expect that Atlassian will report full year earnings of $0.78 per share for the current financial year, with EPS estimates ranging from $0.77 to $0.78. For the next year, analysts forecast that the business will post earnings of $0.96 per share, with EPS estimates ranging from $0.91 to $1.03. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Atlassian.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, October 18th. The technology company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. Atlassian had a negative return on equity of 0.75% and a negative net margin of 36.71%. The company had revenue of $267.30 million for the quarter, compared to analyst estimates of $259.67 million. During the same period in the previous year, the company posted $0.12 earnings per share. The company’s quarterly revenue was up 36.7% compared to the same quarter last year.

Several research firms recently issued reports on TEAM. Needham & Company LLC began coverage on Atlassian in a report on Monday, October 22nd. They set a “hold” rating on the stock. They noted that the move was a valuation call. BidaskClub lowered Atlassian from a “strong-buy” rating to a “buy” rating in a report on Friday, October 5th. BTIG Research upgraded Atlassian from a “neutral” rating to a “buy” rating in a report on Tuesday, November 13th. Zacks Investment Research lowered Atlassian from a “buy” rating to a “hold” rating in a report on Wednesday, November 7th. Finally, Morgan Stanley lowered Atlassian from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $75.00 to $94.00 in a report on Thursday, October 4th. They noted that the move was a valuation call. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $84.40.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC increased its position in Atlassian by 14.1% during the second quarter. FMR LLC now owns 9,000,442 shares of the technology company’s stock worth $562,708,000 after buying an additional 1,112,999 shares during the last quarter. Capital Research Global Investors acquired a new position in shares of Atlassian in the third quarter valued at approximately $638,894,000. BlackRock Inc. grew its position in shares of Atlassian by 7.7% in the third quarter. BlackRock Inc. now owns 2,287,368 shares of the technology company’s stock valued at $219,906,000 after purchasing an additional 163,344 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Atlassian by 48.6% in the third quarter. Renaissance Technologies LLC now owns 2,189,700 shares of the technology company’s stock valued at $210,518,000 after purchasing an additional 716,300 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Atlassian by 39.9% in the second quarter. Bank of New York Mellon Corp now owns 1,655,435 shares of the technology company’s stock valued at $103,497,000 after purchasing an additional 471,860 shares during the last quarter. 88.93% of the stock is currently owned by hedge funds and other institutional investors.

TEAM opened at $95.65 on Friday. Atlassian has a 52-week low of $47.74 and a 52-week high of $98.21. The stock has a market cap of $10.17 billion, a P/E ratio of -1,366.43, a P/E/G ratio of 80.65 and a beta of 1.98. The company has a debt-to-equity ratio of 1.16, a quick ratio of 4.17 and a current ratio of 4.17.

About Atlassian

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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