Brokerages expect that Atlassian Co. PLC (NASDAQ:TEAM) will announce $0.27 earnings per share (EPS) for the current quarter, Zacks reports. Nine analysts have made estimates for Atlassian’s earnings, with the lowest EPS estimate coming in at $0.24 and the highest estimate coming in at $0.31. Atlassian posted earnings per share of $0.25 in the same quarter last year, which indicates a positive year over year growth rate of 8%. The firm is expected to report its next earnings results on Thursday, January 16th.

On average, analysts expect that Atlassian will report full year earnings of $1.01 per share for the current year, with EPS estimates ranging from $1.00 to $1.09. For the next fiscal year, analysts forecast that the firm will report earnings of $1.28 per share, with EPS estimates ranging from $1.18 to $1.38. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Atlassian.

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

A number of analysts have weighed in on TEAM shares. Bank of America reissued a “neutral” rating and set a $147.00 target price (up previously from $138.00) on shares of Atlassian in a research report on Friday, July 26th. ValuEngine downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. DA Davidson increased their target price on shares of Atlassian to $155.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Zacks Investment Research raised shares of Atlassian from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, TheStreet downgraded shares of Atlassian from a “c-” rating to a “d” rating in a research report on Thursday, July 25th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Atlassian has a consensus rating of “Hold” and a consensus price target of $141.44.

Several hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in shares of Atlassian by 22.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 11,208,294 shares of the technology company’s stock worth $1,466,493,000 after buying an additional 2,059,713 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Atlassian by 19.6% in the 2nd quarter. Renaissance Technologies LLC now owns 4,607,600 shares of the technology company’s stock worth $602,858,000 after purchasing an additional 756,100 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Atlassian by 54.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,144,350 shares of the technology company’s stock worth $412,036,000 after purchasing an additional 1,113,490 shares in the last quarter. Pendal Group Ltd bought a new position in shares of Atlassian in the 2nd quarter worth $347,020,000. Finally, Morgan Stanley lifted its holdings in shares of Atlassian by 168.3% in the 2nd quarter. Morgan Stanley now owns 2,139,661 shares of the technology company’s stock worth $279,953,000 after purchasing an additional 1,342,168 shares in the last quarter. 87.19% of the stock is owned by institutional investors.

NASDAQ:TEAM traded down $5.78 on Friday, reaching $116.86. 10,657,872 shares of the stock traded hands, compared to its average volume of 1,686,517. The firm has a market capitalization of $14.49 billion, a price-to-earnings ratio of -687.41, a price-to-earnings-growth ratio of 88.84 and a beta of 1.31. The company’s 50 day moving average is $129.09 and its 200-day moving average is $128.40. Atlassian has a 1-year low of $65.17 and a 1-year high of $149.80.

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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Earnings History and Estimates for Atlassian (NASDAQ:TEAM)

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