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Atlassian Corporation PLC (TEAM) Outpaces Stock Market Gains: What You Should Know

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Atlassian Corporation PLC (TEAM - Free Report) closed the most recent trading day at $188.32, moving +1.63% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.38%. At the same time, the Dow added 0.36%, and the tech-heavy Nasdaq gained 0.66%.

TEAM will be looking to display strength as it nears its next earnings release. On that day, TEAM is projected to report earnings of $0.20 per share, which would represent no growth from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $408.86 million, up 22.2% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.09 per share and revenue of $1.59 billion. These totals would mark changes of +26.74% and +31.64%, respectively, from last year.

Any recent changes to analyst estimates for TEAM should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate has moved 1.33% higher within the past month. TEAM is holding a Zacks Rank of #2 (Buy) right now.

Looking at its valuation, TEAM is holding a Forward P/E ratio of 169.58. This represents a premium compared to its industry's average Forward P/E of 59.49.

It is also worth noting that TEAM currently has a PEG ratio of 7.49. 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 industry currently had an average PEG ratio of 3.3 as of yesterday's close.

The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 33, which puts it in the top 13% 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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