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Atlassian (TEAM) Gains As Market Dips: What You Should Know
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Atlassian (TEAM - Free Report) closed the most recent trading day at $147.26, moving +0.7% from the previous trading session. The stock outpaced the S&P 500's daily loss of 1.11%. Meanwhile, the Dow lost 0.85%, and the Nasdaq, a tech-heavy index, added 0.1%.
Heading into today, shares of the company had gained 20.17% over the past month, outpacing the Computer and Technology sector's loss of 4.59% and the S&P 500's loss of 2.19% in that time.
Wall Street will be looking for positivity from Atlassian as it approaches its next earnings report date. On that day, Atlassian is projected to report earnings of $0.30 per share, which would represent a year-over-year decline of 40%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $843.52 million, up 22.51% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.33 per share and revenue of $3.45 billion. These totals would mark changes of -21.3% and +23.1%, respectively, from last year.
Any recent changes to analyst estimates for Atlassian should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.72% lower. Atlassian is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Atlassian is holding a Forward P/E ratio of 110.11. This valuation marks a premium compared to its industry's average Forward P/E of 45.16.
It is also worth noting that TEAM currently has a PEG ratio of 4.89. 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. Internet - Software stocks are, on average, holding a PEG ratio of 2.2 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 53, putting it in the top 22% 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.
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
Atlassian (TEAM - Free Report) closed the most recent trading day at $147.26, moving +0.7% from the previous trading session. The stock outpaced the S&P 500's daily loss of 1.11%. Meanwhile, the Dow lost 0.85%, and the Nasdaq, a tech-heavy index, added 0.1%.
Heading into today, shares of the company had gained 20.17% over the past month, outpacing the Computer and Technology sector's loss of 4.59% and the S&P 500's loss of 2.19% in that time.
Wall Street will be looking for positivity from Atlassian as it approaches its next earnings report date. On that day, Atlassian is projected to report earnings of $0.30 per share, which would represent a year-over-year decline of 40%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $843.52 million, up 22.51% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.33 per share and revenue of $3.45 billion. These totals would mark changes of -21.3% and +23.1%, respectively, from last year.
Any recent changes to analyst estimates for Atlassian should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.72% lower. Atlassian is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Atlassian is holding a Forward P/E ratio of 110.11. This valuation marks a premium compared to its industry's average Forward P/E of 45.16.
It is also worth noting that TEAM currently has a PEG ratio of 4.89. 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. Internet - Software stocks are, on average, holding a PEG ratio of 2.2 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 53, putting it in the top 22% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.