Atlassian Co. Plc Forecasted to Earn Q3 2021 Earnings of $0.02 Per Share (NASDAQ:TEAM)


Share on StockTwits

Atlassian Co. Plc (NASDAQ:TEAM) – Research analysts at Jefferies Financial Group boosted their Q3 2021 earnings per share (EPS) estimates for shares of Atlassian in a report released on Monday, January 11th. Jefferies Financial Group analyst B. Thill now forecasts that the technology company will earn $0.02 per share for the quarter, up from their previous estimate of $0.01. Jefferies Financial Group also issued estimates for Atlassian’s Q4 2021 earnings at $0.03 EPS and FY2021 earnings at $0.13 EPS.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Tuesday, November 3rd. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.03. The company had revenue of $459.51 million during the quarter, compared to analysts’ expectations of $441.13 million. Atlassian had a negative net margin of 21.72% and a positive return on equity of 2.15%. The firm’s revenue was up 26.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 EPS.

Several other brokerages have also commented on TEAM. Piper Sandler raised their price objective on shares of Atlassian from $220.00 to $225.00 in a report on Wednesday, November 18th. BidaskClub lowered Atlassian from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 28th. Pritchard Capital increased their price objective on Atlassian from $243.00 to $249.00 and gave the stock a “buy” rating in a report on Wednesday, November 18th. Wells Fargo & Company boosted their target price on shares of Atlassian from $205.00 to $220.00 in a report on Tuesday, October 13th. Finally, Truist cut shares of Atlassian from a “buy” rating to a “hold” rating and lifted their price target for the company from $162.00 to $185.00 in a research report on Friday, October 30th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $209.41.

NASDAQ:TEAM opened at $229.87 on Thursday. Atlassian has a 12 month low of $110.01 and a 12 month high of $250.03. The company has a 50-day moving average price of $233.17 and a 200-day moving average price of $197.25. The stock has a market cap of $30.38 billion, a price-to-earnings ratio of -159.63, a P/E/G ratio of 72.05 and a beta of 0.98.

Several hedge funds have recently modified their holdings of TEAM. Jennison Associates LLC boosted its position in Atlassian by 5.7% in the third quarter. Jennison Associates LLC now owns 6,000,657 shares of the technology company’s stock valued at $1,090,859,000 after buying an additional 321,134 shares during the last quarter. BlackRock Inc. lifted its stake in Atlassian by 4.4% during the 3rd quarter. BlackRock Inc. now owns 3,318,441 shares of the technology company’s stock valued at $603,260,000 after acquiring an additional 140,579 shares during the period. Pendal Group Limited boosted its holdings in shares of Atlassian by 10.7% in the 3rd quarter. Pendal Group Limited now owns 2,660,555 shares of the technology company’s stock valued at $483,662,000 after acquiring an additional 257,568 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Atlassian by 60.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,816,304 shares of the technology company’s stock valued at $330,186,000 after purchasing an additional 681,744 shares during the period. Finally, Hardman Johnston Global Advisors LLC boosted its position in Atlassian by 238.0% in the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 1,696,057 shares of the technology company’s stock worth $308,326,000 after purchasing an additional 1,194,281 shares in the last quarter. Institutional investors and hedge funds own 90.42% of the company’s stock.

About Atlassian

Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. It provides project tracking, content creation and sharing, and service management products. The company's products include JIRA, a workflow management system that enables teams to plan, organize, track, and manage their work and projects; Confluence, a content collaboration platform that is used to create, share, organize, and discuss projects; and Trello, a collaboration and organization product, which captures and adds structure to fluid fast-forming work for teams.

Read More: How does a 12b-1 fee affect fund performance?

Earnings History and Estimates for Atlassian (NASDAQ:TEAM)

Receive News & Ratings for Atlassian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atlassian and related companies with MarketBeat.com's FREE daily email newsletter.