Analysts on Wall Street project that Atlassian (TEAM) will announce quarterly earnings of $0.83 per share in its forthcoming report, representing an increase of 25.8% year over year. Revenues are projected to reach $1.35 billion, increasing 19.7% from the same quarter last year.
Over the last 30 days, there has been an upward revision of 7.4% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
With that in mind, let's delve into the average projections of some Atlassian metrics that are commonly tracked and projected by analysts on Wall Street.
It is projected by analysts that the 'Revenues- Subscription' will reach $1.29 billion. The estimate suggests a change of +20.4% year over year.
The consensus estimate for 'Revenues- Other' stands at $66.66 million. The estimate points to a change of +6.3% from the year-ago quarter.
Based on the collective assessment of analysts, 'Revenues- Cloud' should arrive at $906.32 million. The estimate indicates a year-over-year change of +22.8%.
Analysts predict that the 'Revenues- Data Center' will reach $379.45 million. The estimate suggests a change of +16.2% year over year.
The combined assessment of analysts suggests that 'Revenues- Marketplace and other' will likely reach $65.53 million. The estimate indicates a change of -2.1% from the prior-year quarter.
According to the collective judgment of analysts, 'Customers' should come in at 309,244 . Compared to the current estimate, the company reported 300,000 in the same quarter of the previous year.
View all Key Company Metrics for Atlassian here>>>
Over the past month, shares of Atlassian have returned -14.3% versus the Zacks S&P 500 composite's +0.6% change. Currently, TEAM carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Atlassian Corporation PLC (TEAM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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