Equities research analysts expect Atlassian Co. PLC (NASDAQ:TEAM) to post sales of $388.65 million for the current quarter, according to Zacks. Eight analysts have issued estimates for Atlassian’s earnings, with estimates ranging from $386.80 million to $392.30 million. Atlassian reported sales of $298.98 million in the same quarter last year, which indicates a positive year over year growth rate of 30%. The business is expected to announce its next earnings results after the market closes on Thursday, January 23rd.

On average, analysts expect that Atlassian will report full year sales of $1.57 billion for the current year, with estimates ranging from $1.57 billion to $1.59 billion. For the next year, analysts forecast that the business will post sales of $1.97 billion, with estimates ranging from $1.95 billion to $2.04 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Atlassian.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 17th. The technology company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.04. Atlassian had a negative net margin of 24.95% and a negative return on equity of 2.76%. The firm had revenue of $363.40 million for the quarter, compared to the consensus estimate of $351.79 million. During the same period in the previous year, the firm posted $0.20 earnings per share. The firm’s revenue was up 36.0% on a year-over-year basis.

TEAM has been the subject of several recent research reports. Needham & Company LLC reissued a “hold” rating on shares of Atlassian in a research report on Sunday, October 20th. ValuEngine downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Cowen reissued a “buy” rating on shares of Atlassian in a research report on Friday, October 18th. Zacks Investment Research downgraded shares of Atlassian from a “hold” rating to a “strong sell” rating in a research report on Friday. Finally, Cleveland Research initiated coverage on shares of Atlassian in a research report on Friday, December 20th. They issued a “buy” rating and a $132.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $144.69.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Delta Investment Management LLC raised its stake in Atlassian by 0.8% during the 3rd quarter. Delta Investment Management LLC now owns 17,870 shares of the technology company’s stock valued at $2,241,000 after purchasing an additional 141 shares during the last quarter. Morgens Waterfall Vintiadis & Co. Inc. raised its stake in shares of Atlassian by 7.8% in the 2nd quarter. Morgens Waterfall Vintiadis & Co. Inc. now owns 41,500 shares of the technology company’s stock valued at $5,430,000 after buying an additional 3,000 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Atlassian by 68.2% in the 3rd quarter. Stifel Financial Corp now owns 8,499 shares of the technology company’s stock valued at $1,066,000 after buying an additional 3,445 shares in the last quarter. Vista Equity Partners Management LLC raised its stake in shares of Atlassian by 132.4% in the 3rd quarter. Vista Equity Partners Management LLC now owns 183,916 shares of the technology company’s stock valued at $23,070,000 after buying an additional 104,784 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Atlassian by 3.1% in the 3rd quarter. State Street Corp now owns 1,174,797 shares of the technology company’s stock valued at $147,367,000 after buying an additional 35,651 shares in the last quarter. 87.04% of the stock is owned by institutional investors and hedge funds.

TEAM traded down $1.87 on Tuesday, reaching $132.85. 1,993,911 shares of the company traded hands, compared to its average volume of 1,147,553. The stock’s 50 day moving average price is $124.38 and its 200-day moving average price is $129.28. Atlassian has a 52-week low of $87.18 and a 52-week high of $149.80. The company has a market cap of $16.43 billion, a price-to-earnings ratio of -96.27, a PEG ratio of 136.18 and a beta of 1.24.

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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