$185.15 Million in Sales Expected for Atlassian Corporation PLC (NASDAQ:TEAM) This Quarter

Equities research analysts expect Atlassian Corporation PLC (NASDAQ:TEAM) to announce sales of $185.15 million for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Atlassian Corporation PLC’s earnings, with the highest sales estimate coming in at $185.90 million and the lowest estimate coming in at $184.20 million. Atlassian Corporation PLC posted sales of $136.79 million in the same quarter last year, which suggests a positive year over year growth rate of 35.4%. The company is expected to announce its next earnings report on Thursday, October 26th.

According to Zacks, analysts expect that Atlassian Corporation PLC will report full year sales of $185.15 million for the current financial year, with estimates ranging from $820.10 million to $834.00 million. For the next year, analysts expect that the company will post sales of $1.06 billion per share, with estimates ranging from $1.04 billion to $1.09 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Atlassian Corporation PLC.

TEAM has been the subject of several research reports. Guggenheim reissued a “neutral” rating and set a $29.00 price objective on shares of Atlassian Corporation PLC in a research note on Tuesday, April 18th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $40.00 target price (up previously from $35.00) on shares of Atlassian Corporation PLC in a report on Monday, May 1st. BMO Capital Markets restated a “market perform” rating and set a $33.00 target price (up previously from $29.00) on shares of Atlassian Corporation PLC in a report on Friday, April 28th. Jefferies Group LLC restated a “buy” rating and set a $41.00 target price (up previously from $39.00) on shares of Atlassian Corporation PLC in a report on Saturday, April 29th. Finally, ValuEngine upgraded shares of Atlassian Corporation PLC from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $38.73.

Atlassian Corporation PLC (NASDAQ:TEAM) traded up 1.31% on Friday, reaching $36.29. The company’s stock had a trading volume of 760,705 shares. The stock’s market capitalization is $3.22 billion. Atlassian Corporation PLC has a 52 week low of $23.80 and a 52 week high of $39.25. The firm has a 50 day moving average price of $35.63 and a 200 day moving average price of $32.45.

Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP raised its position in shares of Atlassian Corporation PLC by 1,316.3% in the first quarter. Wellington Management Group LLP now owns 4,188,567 shares of the technology company’s stock worth $125,448,000 after buying an additional 3,892,824 shares in the last quarter. FMR LLC raised its position in shares of Atlassian Corporation PLC by 354.8% in the first quarter. FMR LLC now owns 2,189,836 shares of the technology company’s stock worth $65,586,000 after buying an additional 1,708,347 shares in the last quarter. Artisan Partners Limited Partnership raised its position in shares of Atlassian Corporation PLC by 16.8% in the first quarter. Artisan Partners Limited Partnership now owns 6,017,450 shares of the technology company’s stock worth $180,223,000 after buying an additional 866,132 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of Atlassian Corporation PLC by 6.8% in the first quarter. Baillie Gifford & Co. now owns 10,793,259 shares of the technology company’s stock worth $323,259,000 after buying an additional 682,668 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Atlassian Corporation PLC during the fourth quarter worth approximately $10,176,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

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About Atlassian Corporation PLC

Atlassian Corporation Plc is a holding company. The Company offers a range of team collaboration products. The Company offers products, including JIRA, Confluence, HipChat, Bitbucket and JIRA Service Desk, for software developers, information technology (IT) managers and knowledge workers. The Company offers JIRA for team planning and project management; Confluence for team content creation and sharing; HipChat for team real-time messaging and communications; Bitbucket for team code sharing and management, and JIRA Service Desk for team service and support applications.

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