We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Atlassian (TEAM) Dips More Than Broader Markets: What You Should Know
Read MoreHide Full Article
Atlassian (TEAM - Free Report) closed at $128.68 in the latest trading session, marking a -0.77% move from the prior day. This move lagged the S&P 500's daily loss of 0.25%. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 5.91%.
Heading into today, shares of the company had lost 7.41% over the past month, lagging the Computer and Technology sector's loss of 3.63% and the S&P 500's loss of 2.59% 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, our latest consensus estimate is calling for revenue of $843.52 million, up 22.51% from the prior-year quarter.
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.
Investors should also note any recent changes to analyst estimates for Atlassian. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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. The Zacks Consensus EPS estimate has moved 5.72% lower within the past month. Atlassian is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Atlassian's current valuation metrics, including its Forward P/E ratio of 97.65. This represents a premium compared to its industry's average Forward P/E of 47.4.
It is also worth noting that TEAM currently has a PEG ratio of 4.34. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Software was holding an average PEG ratio of 2.12 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 61, which puts it in the top 25% 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.
To follow TEAM in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Atlassian (TEAM) Dips More Than Broader Markets: What You Should Know
Atlassian (TEAM - Free Report) closed at $128.68 in the latest trading session, marking a -0.77% move from the prior day. This move lagged the S&P 500's daily loss of 0.25%. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 5.91%.
Heading into today, shares of the company had lost 7.41% over the past month, lagging the Computer and Technology sector's loss of 3.63% and the S&P 500's loss of 2.59% 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, our latest consensus estimate is calling for revenue of $843.52 million, up 22.51% from the prior-year quarter.
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.
Investors should also note any recent changes to analyst estimates for Atlassian. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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. The Zacks Consensus EPS estimate has moved 5.72% lower within the past month. Atlassian is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Atlassian's current valuation metrics, including its Forward P/E ratio of 97.65. This represents a premium compared to its industry's average Forward P/E of 47.4.
It is also worth noting that TEAM currently has a PEG ratio of 4.34. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Software was holding an average PEG ratio of 2.12 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 61, which puts it in the top 25% 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.
To follow TEAM in the coming trading sessions, be sure to utilize Zacks.com.