Atlassian (TEAM) to Release Earnings on Thursday

Atlassian (NASDAQ:TEAM – Get Rating) is set to announce its earnings results after the market closes on Thursday, April 28th. Analysts expect the company to announce earnings of ($0.20) per share for the quarter. Atlassian has set its Q3 guidance at $0.29-0.31 EPS.Parties interested in participating in the company’s conference call can do so using this link.

Atlassian (NASDAQ:TEAM – Get Rating) last posted its earnings results on Thursday, January 27th. The technology company reported ($0.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.26). Atlassian had a negative net margin of 21.84% and a negative return on equity of 23.70%. The business had revenue of $688.00 million for the quarter, compared to analysts’ expectations of $642.47 million. During the same quarter last year, the business posted $0.05 earnings per share. The business’s revenue was up 37.2% compared to the same quarter last year. On average, analysts expect Atlassian to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

TEAM opened at $265.81 on Thursday. The company’s 50 day simple moving average is $286.47 and its 200 day simple moving average is $343.34. The company has a debt-to-equity ratio of 8.08, a quick ratio of 1.08 and a current ratio of 1.08. Atlassian has a 1 year low of $207.83 and a 1 year high of $483.13. The stock has a market capitalization of $36.50 billion, a PE ratio of -125.38 and a beta of 0.93.

A number of institutional investors have recently made changes to their positions in TEAM. Neo Ivy Capital Management purchased a new stake in Atlassian in the 4th quarter worth $45,000. Forum Financial Management LP bought a new stake in Atlassian in the fourth quarter worth about $304,000. Autumn Glory Partners LLC bought a new stake in shares of Atlassian during the fourth quarter valued at approximately $310,000. Colony Group LLC raised its stake in shares of Atlassian by 24.3% during the fourth quarter. Colony Group LLC now owns 1,279 shares of the technology company’s stock valued at $488,000 after acquiring an additional 250 shares in the last quarter. Finally, Horizon Investments LLC raised its stake in Atlassian by 5.8% in the fourth quarter. Horizon Investments LLC now owns 1,606 shares of the technology company’s stock worth $612,000 after buying an additional 88 shares in the last quarter. 86.08% of the stock is currently owned by institutional investors.

A number of analysts recently issued reports on TEAM shares. Canaccord Genuity Group dropped their price target on shares of Atlassian from $500.00 to $375.00 in a research note on Friday, January 28th. Piper Sandler cut their price target on shares of Atlassian from $414.00 to $384.00 and set an “overweight” rating for the company in a report on Friday, April 8th. KeyCorp cut their price objective on Atlassian from $442.00 to $397.00 and set an “overweight” rating on the stock in a report on Friday, April 8th. Oppenheimer lowered their price target on Atlassian from $500.00 to $430.00 in a research note on Friday, January 28th. Finally, BMO Capital Markets decreased their target price on Atlassian from $515.00 to $382.00 in a research note on Friday, January 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $406.84.

About Atlassian (Get Rating)

Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include JIRA, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise agile planning; Opsgenie, an incident management tool that centralizes alerts and notifies right people at right time; and Statuspage for incident communication.

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