Analysts on Wall Street project that Atlassian (TEAM) will announce quarterly earnings of $1.12 per share in its forthcoming report, representing an increase of 16.7% year over year. Revenues are projected to reach $1.54 billion, increasing 19.7% from the same quarter last year.
The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
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 usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
That said, let's delve into the average estimates of some Atlassian metrics that Wall Street analysts commonly model and monitor.
Analysts' assessment points toward 'Revenues- Subscription' reaching $1.46 billion. The estimate indicates a year-over-year change of +20.7%.
Analysts expect 'Revenues- Other' to come in at $75.26 million. The estimate indicates a year-over-year change of +2.8%.
The collective assessment of analysts points to an estimated 'Revenues- Cloud' of $1.04 billion. The estimate indicates a year-over-year change of +22.5%.
According to the collective judgment of analysts, 'Revenues- Data Center' should come in at $423.84 million. The estimate indicates a year-over-year change of +17%.
Based on the collective assessment of analysts, 'Revenues- Marketplace and other' should arrive at $79.18 million. The estimate points to a change of +2.5% from the year-ago quarter.
The average prediction of analysts places 'Customers' at 317,678 . The estimate is in contrast to the year-ago figure of 300,000 .
View all Key Company Metrics for Atlassian here>>>
Over the past month, Atlassian shares have recorded returns of -26.1% versus the Zacks S&P 500 composite's +1.8% change. Based on its Zacks Rank #3 (Hold), TEAM will likely exhibit a performance that aligns with the overall market in the upcoming period. 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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