In the latest trading session, Atlassian Corporation PLC (TEAM) closed at $108.46, marking a +1.37% move from the previous day. This move outpaced the S&P 500's daily gain of 0.36%. Elsewhere, the Dow gained 0.36%, while the tech-heavy Nasdaq added 0.34%.
Coming into today, shares of the company had gained 0.62% in the past month. In that same time, the Computer and Technology sector gained 1.96%, while the S&P 500 gained 0.64%.
Investors will be hoping for strength from TEAM as it approaches its next earnings release. In that report, analysts expect TEAM to post earnings of $0.18 per share. This would mark year-over-year growth of 80%. Meanwhile, our latest consensus estimate is calling for revenue of $304.09 million, up 35.92% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.81 per share and revenue of $1.20 billion. These totals would mark changes of +65.31% and +36.85%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for TEAM. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. TEAM currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that TEAM has a Forward P/E ratio of 131.41 right now. This represents a premium compared to its industry's average Forward P/E of 55.6.
We can also see that TEAM currently has a PEG ratio of 9.73. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Internet - Software stocks are, on average, holding a PEG ratio of 3.08 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 57, putting it in the top 23% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Atlassian Corporation PLC (TEAM): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.