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Atlassian (TEAM) Increases Despite Market Slip: Here's What You Need to Know
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Atlassian (TEAM - Free Report) closed the latest trading day at $188.31, indicating a +1.02% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.5%. Elsewhere, the Dow saw an upswing of 0.12%, while the tech-heavy Nasdaq depreciated by 1.23%.
The company's stock has dropped by 10.98% in the past month, falling short of the Computer and Technology sector's loss of 0.1% and the S&P 500's loss of 2.4%.
The upcoming earnings release of Atlassian will be of great interest to investors. The company's earnings report is expected on November 2, 2023. The company's earnings per share (EPS) are projected to be $0.53, reflecting a 47.22% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $959.01 million, up 18.78% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.13 per share and a revenue of $4.11 billion, indicating changes of +10.94% and +16.19%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Atlassian. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. At present, Atlassian boasts a Zacks Rank of #2 (Buy).
From a valuation perspective, Atlassian is currently exchanging hands at a Forward P/E ratio of 87.59. This signifies a premium in comparison to the average Forward P/E of 37.05 for its industry.
It's also important to note that TEAM currently trades at a PEG ratio of 4.38. 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. As of the close of trade yesterday, the Internet - Software industry held an average PEG ratio of 1.49.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 78, placing it within the top 31% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Atlassian (TEAM) Increases Despite Market Slip: Here's What You Need to Know
Atlassian (TEAM - Free Report) closed the latest trading day at $188.31, indicating a +1.02% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.5%. Elsewhere, the Dow saw an upswing of 0.12%, while the tech-heavy Nasdaq depreciated by 1.23%.
The company's stock has dropped by 10.98% in the past month, falling short of the Computer and Technology sector's loss of 0.1% and the S&P 500's loss of 2.4%.
The upcoming earnings release of Atlassian will be of great interest to investors. The company's earnings report is expected on November 2, 2023. The company's earnings per share (EPS) are projected to be $0.53, reflecting a 47.22% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $959.01 million, up 18.78% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.13 per share and a revenue of $4.11 billion, indicating changes of +10.94% and +16.19%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Atlassian. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. At present, Atlassian boasts a Zacks Rank of #2 (Buy).
From a valuation perspective, Atlassian is currently exchanging hands at a Forward P/E ratio of 87.59. This signifies a premium in comparison to the average Forward P/E of 37.05 for its industry.
It's also important to note that TEAM currently trades at a PEG ratio of 4.38. 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. As of the close of trade yesterday, the Internet - Software industry held an average PEG ratio of 1.49.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 78, placing it within the top 31% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.