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Atlassian (TEAM) Dips More Than Broader Markets: What You Should Know
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Atlassian (TEAM - Free Report) closed the most recent trading day at $268.32, moving -1.22% from the previous trading session. This change lagged the S&P 500's daily loss of 0.34%.
Prior to today's trading, shares of the company had gained 13.81% over the past month. This has outpaced the Computer and Technology sector's gain of 2.77% and the S&P 500's gain of 5.03% in that time.
Atlassian will be looking to display strength as it nears its next earnings release, which is expected to be April 28, 2022. The company is expected to report EPS of $0.32, down 33.33% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $696.99 million, up 22.55% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.56 per share and revenue of $2.69 billion, which would represent changes of +11.43% and +28.57%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Atlassian. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.25% higher. Atlassian is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Atlassian is currently trading at a Forward P/E ratio of 174.26. This valuation marks a premium compared to its industry's average Forward P/E of 52.44.
We can also see that TEAM currently has a PEG ratio of 7.74. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Software was holding an average PEG ratio of 3.09 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 193, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Atlassian (TEAM) Dips More Than Broader Markets: What You Should Know
Atlassian (TEAM - Free Report) closed the most recent trading day at $268.32, moving -1.22% from the previous trading session. This change lagged the S&P 500's daily loss of 0.34%.
Prior to today's trading, shares of the company had gained 13.81% over the past month. This has outpaced the Computer and Technology sector's gain of 2.77% and the S&P 500's gain of 5.03% in that time.
Atlassian will be looking to display strength as it nears its next earnings release, which is expected to be April 28, 2022. The company is expected to report EPS of $0.32, down 33.33% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $696.99 million, up 22.55% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.56 per share and revenue of $2.69 billion, which would represent changes of +11.43% and +28.57%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Atlassian. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.25% higher. Atlassian is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Atlassian is currently trading at a Forward P/E ratio of 174.26. This valuation marks a premium compared to its industry's average Forward P/E of 52.44.
We can also see that TEAM currently has a PEG ratio of 7.74. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Software was holding an average PEG ratio of 3.09 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 193, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.