Analysts on Wall Street project that Atlassian (TEAM) will announce quarterly earnings of $0.90 per share in its forthcoming report, representing an increase of 1.1% year over year. Revenues are projected to reach $1.35 billion, increasing 13.3% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 2.4% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements 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.
Bearing this in mind, let's now explore the average estimates of specific Atlassian metrics that are commonly monitored and projected by Wall Street analysts.
Based on the collective assessment of analysts, 'Revenues- Subscription' should arrive at $1.26 billion. The estimate indicates a year-over-year change of +17.7%.
Analysts forecast 'Revenues- Other' to reach $85.84 million. The estimate suggests a change of -2.7% year over year.
Analysts predict that the 'Revenues- Cloud' will reach $862.64 million. The estimate points to a change of +22.7% from the year-ago quarter.
Analysts' assessment points toward 'Revenues- Data Center' reaching $386.24 million. The estimate indicates a year-over-year change of +6.1%.
The combined assessment of analysts suggests that 'Revenues- Marketplace and other' will likely reach $90.99 million. The estimate suggests a change of -1.4% year over year.
The consensus estimate for 'Customers' stands at 306,393. Compared to the present estimate, the company reported 300,000 in the same quarter last year.
View all Key Company Metrics for Atlassian here>>>
Over the past month, Atlassian shares have recorded returns of +4.9% versus the Zacks S&P 500 composite's -4.3% 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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