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Atlassian (TEAM) Stock Moves -1.05%: What You Should Know
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Atlassian (TEAM - Free Report) closed the most recent trading day at $252.89, moving -1.05% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.13%. Meanwhile, the Dow lost 0.56%, and the Nasdaq, a tech-heavy index, added 0.16%.
Heading into today, shares of the company had lost 10.09% over the past month, outpacing the Computer and Technology sector's loss of 12.18% and lagging the S&P 500's loss of 7.59% in that time.
Wall Street will be looking for positivity from Atlassian as it approaches its next earnings report date. The company is expected to report EPS of $0.38, down 17.39% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $801.55 million, up 30.54% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.54 per share and revenue of $3.56 billion, which would represent changes of -8.88% and +27.06%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Atlassian. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Atlassian is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Atlassian is currently trading at a Forward P/E ratio of 166.32. For comparison, its industry has an average Forward P/E of 44.02, which means Atlassian is trading at a premium to the group.
It is also worth noting that TEAM currently has a PEG ratio of 8.32. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Internet - Software stocks are, on average, holding a PEG ratio of 2.54 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 143, putting it in the bottom 44% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow TEAM in the coming trading sessions, be sure to utilize Zacks.com.
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Atlassian (TEAM) Stock Moves -1.05%: What You Should Know
Atlassian (TEAM - Free Report) closed the most recent trading day at $252.89, moving -1.05% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.13%. Meanwhile, the Dow lost 0.56%, and the Nasdaq, a tech-heavy index, added 0.16%.
Heading into today, shares of the company had lost 10.09% over the past month, outpacing the Computer and Technology sector's loss of 12.18% and lagging the S&P 500's loss of 7.59% in that time.
Wall Street will be looking for positivity from Atlassian as it approaches its next earnings report date. The company is expected to report EPS of $0.38, down 17.39% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $801.55 million, up 30.54% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.54 per share and revenue of $3.56 billion, which would represent changes of -8.88% and +27.06%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Atlassian. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Atlassian is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Atlassian is currently trading at a Forward P/E ratio of 166.32. For comparison, its industry has an average Forward P/E of 44.02, which means Atlassian is trading at a premium to the group.
It is also worth noting that TEAM currently has a PEG ratio of 8.32. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Internet - Software stocks are, on average, holding a PEG ratio of 2.54 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 143, putting it in the bottom 44% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow TEAM in the coming trading sessions, be sure to utilize Zacks.com.