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Atlassian (TEAM) Gains As Market Dips: What You Should Know
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In the latest trading session, Atlassian (TEAM - Free Report) closed at $313.75, marking a +0.68% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.1%. At the same time, the Dow lost 0.47%, and the tech-heavy Nasdaq lost 0.47%.
Heading into today, shares of the company had lost 19.56% over the past month, lagging the Computer and Technology sector's loss of 1% and the S&P 500's gain of 3.67% in that time.
Investors will be hoping for strength from Atlassian as it approaches its next earnings release. On that day, Atlassian is projected to report earnings of $0.38 per share, which would represent year-over-year growth of 2.7%. Our most recent consensus estimate is calling for quarterly revenue of $638.63 million, up 27.38% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.58 per share and revenue of $2.59 billion. These totals would mark changes of +12.86% and +23.97%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Atlassian. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Atlassian currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Atlassian is holding a Forward P/E ratio of 197.06. This represents a premium compared to its industry's average Forward P/E of 57.51.
Also, we should mention that TEAM has a PEG ratio of 8.76. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. TEAM's industry had an average PEG ratio of 3.12 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 180, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Atlassian (TEAM) Gains As Market Dips: What You Should Know
In the latest trading session, Atlassian (TEAM - Free Report) closed at $313.75, marking a +0.68% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.1%. At the same time, the Dow lost 0.47%, and the tech-heavy Nasdaq lost 0.47%.
Heading into today, shares of the company had lost 19.56% over the past month, lagging the Computer and Technology sector's loss of 1% and the S&P 500's gain of 3.67% in that time.
Investors will be hoping for strength from Atlassian as it approaches its next earnings release. On that day, Atlassian is projected to report earnings of $0.38 per share, which would represent year-over-year growth of 2.7%. Our most recent consensus estimate is calling for quarterly revenue of $638.63 million, up 27.38% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.58 per share and revenue of $2.59 billion. These totals would mark changes of +12.86% and +23.97%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Atlassian. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Atlassian currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Atlassian is holding a Forward P/E ratio of 197.06. This represents a premium compared to its industry's average Forward P/E of 57.51.
Also, we should mention that TEAM has a PEG ratio of 8.76. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. TEAM's industry had an average PEG ratio of 3.12 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 180, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.