Zacks: Analysts Anticipate Atlassian (TEAM) to Post $0.08 EPS

Analysts forecast that Atlassian (NASDAQ:TEAM) will announce earnings of $0.08 per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Atlassian’s earnings. Atlassian also posted earnings of $0.08 per share in the same quarter last year. The business is scheduled to issue its next earnings results after the market closes on Thursday, April 19th.

On average, analysts expect that Atlassian will report full-year earnings of $0.48 per share for the current financial year, with EPS estimates ranging from $0.47 to $0.48. For the next fiscal year, analysts anticipate that the firm will post earnings of $0.66 per share, with EPS estimates ranging from $0.62 to $0.71. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Atlassian.

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Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, January 18th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.04). The business had revenue of $212.63 million during the quarter, compared to the consensus estimate of $204.40 million. Atlassian had a negative net margin of 15.85% and a negative return on equity of 4.00%.

TEAM has been the topic of several recent research reports. Oppenheimer raised their target price on shares of Atlassian to $58.00 and gave the company an “outperform” rating in a research note on Thursday, January 4th. Canaccord Genuity reaffirmed a “buy” rating and issued a $60.00 target price (up previously from $52.00) on shares of Atlassian in a research note on Wednesday, January 17th. BidaskClub raised shares of Atlassian from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 18th. Jefferies Group lifted their price objective on shares of Atlassian to $64.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $56.00 price objective (up previously from $51.00) on shares of Atlassian in a research note on Friday, January 19th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $57.40.

A number of institutional investors have recently added to or reduced their stakes in TEAM. Tower Research Capital LLC TRC bought a new position in Atlassian during the 4th quarter worth approximately $116,000. Nelson Roberts Investment Advisors LLC bought a new position in Atlassian during the 4th quarter worth approximately $123,000. Public Employees Retirement Association of Colorado boosted its stake in Atlassian by 50.7% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 3,464 shares of the technology company’s stock worth $158,000 after acquiring an additional 1,165 shares during the last quarter. Elkfork Partners LLC bought a new position in Atlassian during the 4th quarter worth approximately $183,000. Finally, SeaCrest Wealth Management LLC bought a new position in Atlassian during the 4th quarter worth approximately $201,000. 88.35% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ TEAM traded up $1.96 during mid-day trading on Wednesday, hitting $56.55. The company’s stock had a trading volume of 502,045 shares, compared to its average volume of 1,068,415. The firm has a market capitalization of $5,437.12, a PE ratio of -1,885.67 and a beta of 2.28. Atlassian has a one year low of $30.83 and a one year high of $62.25.

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Atlassian Company Profile

Atlassian Corporation Plc, through its subsidiaries, provides team collaboration and productivity software solutions worldwide. It offers project tracking, content creation and sharing, real-time communication, and service management products to large and small organizations. 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; HipChat that provides teams a way to communicate in real-time and share ideas, updates, codes, and files; Trello, a Web-based project management application for capturing and adding structure to fluid and fast-forming work for teams; Bitbucket, a code management and collaboration product for teams using distributed version control systems; and JIRA Service Desk, a service desk product for creating and managing service experiences for various service team providers, including IT help desks, and legal and HR teams.

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