Analysts expect that Atlassian Co. PLC (NASDAQ:TEAM) will report sales of $288.24 million for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Atlassian’s earnings. The lowest sales estimate is $287.75 million and the highest is $288.99 million. Atlassian posted sales of $212.63 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 35.6%. The company is scheduled to report its next quarterly earnings report on Thursday, January 17th.

On average, analysts expect that Atlassian will report full year sales of $1.18 billion for the current financial year. For the next year, analysts forecast that the company will post sales of $1.49 billion, with estimates ranging from $1.47 billion to $1.52 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Atlassian.

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

Several equities analysts have recently issued reports on the company. Zacks Investment Research raised Atlassian from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a research report on Friday. BidaskClub raised Atlassian from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 3rd. Needham & Company LLC assumed coverage on Atlassian in a research report on Monday, October 22nd. They issued a “hold” rating for the company. They noted that the move was a valuation call. Morgan Stanley lowered Atlassian from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $75.00 to $94.00 in a research report on Thursday, October 4th. They noted that the move was a valuation call. Finally, Cowen lifted their price target on Atlassian from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, September 13th. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $82.00.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Trexquant Investment LP increased its holdings in Atlassian by 47.5% in the 3rd quarter. Trexquant Investment LP now owns 41,811 shares of the technology company’s stock worth $4,020,000 after buying an additional 13,466 shares in the last quarter. BlackRock Inc. increased its holdings in Atlassian by 7.7% in the 3rd quarter. BlackRock Inc. now owns 2,287,368 shares of the technology company’s stock worth $219,906,000 after buying an additional 163,344 shares in the last quarter. Hillsdale Investment Management Inc. bought a new stake in Atlassian in the 3rd quarter worth about $460,000. AXA increased its holdings in Atlassian by 14.0% in the 3rd quarter. AXA now owns 183,547 shares of the technology company’s stock worth $17,646,000 after buying an additional 22,555 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Atlassian by 11.5% in the 3rd quarter. Alliancebernstein L.P. now owns 50,012 shares of the technology company’s stock worth $4,808,000 after buying an additional 5,150 shares in the last quarter. 92.18% of the stock is owned by hedge funds and other institutional investors.

Atlassian stock traded down $2.66 on Monday, hitting $73.29. 684,306 shares of the stock traded hands, compared to its average volume of 2,097,740. The company has a current ratio of 4.17, a quick ratio of 4.17 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $8.24 billion, a P/E ratio of -1,047.00, a P/E/G ratio of 65.33 and a beta of 2.73. Atlassian has a 1 year low of $43.11 and a 1 year high of $98.21.

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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