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Atlassian (TEAM) Declines More Than Market: Some Information for Investors
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Atlassian (TEAM - Free Report) closed the most recent trading day at $176.02, moving -1.44% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 1.18%. On the other hand, the Dow registered a loss of 0.76%, and the technology-centric Nasdaq decreased by 1.76%.
The the stock of company has fallen by 9.58% in the past month, lagging the Computer and Technology sector's loss of 2.96% and the S&P 500's loss of 3.35%.
Market participants will be closely following the financial results of Atlassian in its upcoming release. The company plans to announce its earnings on November 2, 2023. On that day, Atlassian is projected to report earnings of $0.53 per share, which would represent year-over-year growth of 47.22%. Meanwhile, the latest consensus estimate predicts the revenue to be $959.01 million, indicating a 18.78% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.12 per share and revenue of $4.11 billion. These totals would mark changes of +10.42% and +16.19%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Atlassian. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.05% decrease. Right now, Atlassian possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Atlassian is presently trading at a Forward P/E ratio of 84.12. This denotes a premium relative to the industry's average Forward P/E of 35.52.
We can additionally observe that TEAM currently boasts a PEG ratio of 4.21. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Internet - Software industry stood at 1.4 at the close of the market yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 72, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Atlassian (TEAM) Declines More Than Market: Some Information for Investors
Atlassian (TEAM - Free Report) closed the most recent trading day at $176.02, moving -1.44% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 1.18%. On the other hand, the Dow registered a loss of 0.76%, and the technology-centric Nasdaq decreased by 1.76%.
The the stock of company has fallen by 9.58% in the past month, lagging the Computer and Technology sector's loss of 2.96% and the S&P 500's loss of 3.35%.
Market participants will be closely following the financial results of Atlassian in its upcoming release. The company plans to announce its earnings on November 2, 2023. On that day, Atlassian is projected to report earnings of $0.53 per share, which would represent year-over-year growth of 47.22%. Meanwhile, the latest consensus estimate predicts the revenue to be $959.01 million, indicating a 18.78% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.12 per share and revenue of $4.11 billion. These totals would mark changes of +10.42% and +16.19%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Atlassian. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.05% decrease. Right now, Atlassian possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Atlassian is presently trading at a Forward P/E ratio of 84.12. This denotes a premium relative to the industry's average Forward P/E of 35.52.
We can additionally observe that TEAM currently boasts a PEG ratio of 4.21. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Internet - Software industry stood at 1.4 at the close of the market yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 72, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.