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Atlassian (TEAM) Gains But Lags Market: What You Should Know
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Atlassian (TEAM - Free Report) closed at $194.10 in the latest trading session, marking a +0.77% move from the prior day. The stock lagged the S&P 500's daily gain of 2.37%. Meanwhile, the Dow gained 2.47%, and the Nasdaq, a tech-heavy index, lost 0.02%.
Investors will be hoping for strength from Atlassian as it approaches its next earnings release, which is expected to be November 3, 2022. On that day, Atlassian is projected to report earnings of $0.38 per share, which would represent a year-over-year decline of 17.39%. 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.
It is also important to note the recent changes to analyst estimates for Atlassian. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Atlassian is currently a Zacks Rank #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 71, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Atlassian (TEAM) Gains But Lags Market: What You Should Know
Atlassian (TEAM - Free Report) closed at $194.10 in the latest trading session, marking a +0.77% move from the prior day. The stock lagged the S&P 500's daily gain of 2.37%. Meanwhile, the Dow gained 2.47%, and the Nasdaq, a tech-heavy index, lost 0.02%.
Investors will be hoping for strength from Atlassian as it approaches its next earnings release, which is expected to be November 3, 2022. On that day, Atlassian is projected to report earnings of $0.38 per share, which would represent a year-over-year decline of 17.39%. 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.
It is also important to note the recent changes to analyst estimates for Atlassian. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Atlassian is currently a Zacks Rank #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 71, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.