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Atlassian (TEAM) Stock Sinks As Market Gains: What You Should Know
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Atlassian (TEAM - Free Report) closed at $206.60 in the latest trading session, marking a -0.15% move from the prior day. This change lagged the S&P 500's 0.14% gain on the day. At the same time, the Dow added 0.22%, and the tech-heavy Nasdaq gained 0.09%.
Coming into today, shares of the company had gained 4.79% in the past month. In that same time, the Computer and Technology sector gained 0.07%, while the S&P 500 lost 1.27%.
Investors will be hoping for strength from Atlassian as it approaches its next earnings release. In that report, analysts expect Atlassian to post earnings of $0.53 per share. This would mark year-over-year growth of 47.22%. Our most recent consensus estimate is calling for quarterly revenue of $959.01 million, up 18.78% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.13 per share and revenue of $4.11 billion, which would represent changes of +10.94% and +16.19%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Atlassian. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 has moved 0.63% higher. Atlassian is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Atlassian is currently trading at a Forward P/E ratio of 97.24. This represents a premium compared to its industry's average Forward P/E of 38.78.
It is also worth noting that TEAM currently has a PEG ratio of 4.86. 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. The Internet - Software industry currently had an average PEG ratio of 1.65 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% 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) Stock Sinks As Market Gains: What You Should Know
Atlassian (TEAM - Free Report) closed at $206.60 in the latest trading session, marking a -0.15% move from the prior day. This change lagged the S&P 500's 0.14% gain on the day. At the same time, the Dow added 0.22%, and the tech-heavy Nasdaq gained 0.09%.
Coming into today, shares of the company had gained 4.79% in the past month. In that same time, the Computer and Technology sector gained 0.07%, while the S&P 500 lost 1.27%.
Investors will be hoping for strength from Atlassian as it approaches its next earnings release. In that report, analysts expect Atlassian to post earnings of $0.53 per share. This would mark year-over-year growth of 47.22%. Our most recent consensus estimate is calling for quarterly revenue of $959.01 million, up 18.78% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.13 per share and revenue of $4.11 billion, which would represent changes of +10.94% and +16.19%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Atlassian. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 has moved 0.63% higher. Atlassian is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Atlassian is currently trading at a Forward P/E ratio of 97.24. This represents a premium compared to its industry's average Forward P/E of 38.78.
It is also worth noting that TEAM currently has a PEG ratio of 4.86. 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. The Internet - Software industry currently had an average PEG ratio of 1.65 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% 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.