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Atlassian Corporation PLC (TEAM) Dips More Than Broader Markets: What You Should Know
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Atlassian Corporation PLC (TEAM - Free Report) closed at $188.64 in the latest trading session, marking a -1.39% move from the prior day. This change lagged the S&P 500's 1.23% loss on the day. Elsewhere, the Dow lost 1.31%, while the tech-heavy Nasdaq lost 2.29%.
Heading into today, shares of the company had gained 8.19% over the past month, outpacing the Computer and Technology sector's gain of 5.9% and the S&P 500's gain of 5.2% in that time.
Investors will be hoping for strength from TEAM as it approaches its next earnings release, which is expected to be July 30, 2020. On that day, TEAM is projected to report earnings of $0.20 per share, which would represent no growth from the year-ago period. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $408.86 million, up 22.2% from the year-ago period.
It is also important to note the recent changes to analyst estimates for TEAM. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 19.23% lower within the past month. TEAM is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, TEAM is holding a Forward P/E ratio of 148.29. Its industry sports an average Forward P/E of 79.12, so we one might conclude that TEAM is trading at a premium comparatively.
We can also see that TEAM currently has a PEG ratio of 6.55. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Internet - Software stocks are, on average, holding a PEG ratio of 4.05 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow TEAM in the coming trading sessions, be sure to utilize Zacks.com.
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Atlassian Corporation PLC (TEAM) Dips More Than Broader Markets: What You Should Know
Atlassian Corporation PLC (TEAM - Free Report) closed at $188.64 in the latest trading session, marking a -1.39% move from the prior day. This change lagged the S&P 500's 1.23% loss on the day. Elsewhere, the Dow lost 1.31%, while the tech-heavy Nasdaq lost 2.29%.
Heading into today, shares of the company had gained 8.19% over the past month, outpacing the Computer and Technology sector's gain of 5.9% and the S&P 500's gain of 5.2% in that time.
Investors will be hoping for strength from TEAM as it approaches its next earnings release, which is expected to be July 30, 2020. On that day, TEAM is projected to report earnings of $0.20 per share, which would represent no growth from the year-ago period. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $408.86 million, up 22.2% from the year-ago period.
It is also important to note the recent changes to analyst estimates for TEAM. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 19.23% lower within the past month. TEAM is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, TEAM is holding a Forward P/E ratio of 148.29. Its industry sports an average Forward P/E of 79.12, so we one might conclude that TEAM is trading at a premium comparatively.
We can also see that TEAM currently has a PEG ratio of 6.55. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Internet - Software stocks are, on average, holding a PEG ratio of 4.05 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow TEAM in the coming trading sessions, be sure to utilize Zacks.com.