Atlassian Corporation Plc TEAMis scheduled to report third-quarter fiscal 2018 earnings on Apr 19. The question lingering on investors’ minds is if this company, engaged in designing, developing, licensing and maintenance of software, and provisioning of software hosting services, is capable of delivering a positive surprise or not.
Notably, the stock outperformed the Zacks Consensus Estimate in all the trailing four quarters, with an average positive surprise of 21.87%. Last quarter, the company came up with a positive earnings surprise of 8.3%.
What the Zacks Model Says
According to the Zacks model, a company with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) has a good chance of beating estimates if it also has a positive Earnings ESP. Sell-rated stocks (Zacks Rank #4 or 5) are best avoided.
Atlassian has a Zacks Rank #3 and an Earnings ESP of 0.00%. This indicates that the company is unlikely to beat estimates. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
The Zacks Consensus Estimate for the third quarter is pegged at 8 cents per share, flat on a year-over-year basis. Revenues are estimated to be around $218.24 million, indicating a 36.5% increase on a year-over-year basis.