Application software firm Atlassian (TEAM) has performed extremely well over the last few years. The stock is up almost 145% over the last two years, while the S&P 500 is up a far more modest 21%. Even when compared to the iShares Expanded Tech-Software Sector ETF (IGV), Atlassian has gained twice as much as the sector.

Atlassian is getting ready to report fiscal first-quarter results in the next few weeks, and the stock is trading near an all-time high ahead of that earnings report. I wasn’t able to find the exact earnings date, as the company didn’t have the event on its Investor Relations page just yet. Several websites, including the Wall Street Journal, have the earnings report coming out on October 15. Based on the fact that Q4 2020 results were released on July 30 and third-quarter results were released on April 30, I am thinking the report will be in a few weeks, not on the 15th.

Regardless of when the report comes out, analysts expect the company to report EPS of $0.27 for the quarter, and that is a penny shy of the $0.28 Atlassian reported in Q1 last year. Revenue is expected to come in at $$440.49 million, and that is an increase of 25.2% compared to last year.

Over the last three years, the company has seen earnings grow by 52% per year, while revenue has grown by 38% per year. The fourth-quarter results showed earnings growth of 25% and revenue growth of 29%. Analysts expect the earnings growth to slow down in 2021 with an estimated growth rate of 3%. Revenue is expected to grow by 18.8%.

In addition to the tremendous earnings and revenue growth, Atlassian has strong management efficiency measurements. The return on equity is extremely high at 50.6%, and the

U.S. mortgage rates fell to a fresh all-time low last week, an industry lobby group said Wednesday, but refinancing activity slumped, and purchases fell, amid a backlog of applications and record-high housing prices. 

The MBA’s refinancing index fell 6.5% to 3,346.9 points, but still remains 52% higher than last year. while mortgage applications fell 4.7% for the week ending September 25. The seasonally-adjusted Purchase Index, which tracks mortgage applications for the purchase of a single family home, fell 1.9% to 320.9 points. 

“Despite the decline in rates, refinances fell over 6%, driven by a 9% drop in conventional refinance applications,” said said Joel Kan, the MBA’s associate vice president of economic and industry forecasting. “There are indications that refinance rates are not decreasing to the same extent as rates for home purchase loans, and that could explain last week’s decline in refinances. Many lenders are still operating at full capacity and working through operational challenges, ultimately limiting the number of applications they are able to accept.”

“Purchase applications also decreased last week, but activity was still at a strong year-over-year growth rate of 22%,” he added. “Even as pent-up demand from earlier in the year wanes, there continues to be action in the higher price tiers, with the average loan balance remaining close to an all-time survey high.”

Last week, data from the Commerce Department showed that new home sales in the United States jumped to a fourteen-year high, while the median sale price of a new home sold in August was pegged at $312,800, the Department said, down 4.3% from last year. 

That reading followed similar figures from the National Association of Realtors, which said existing home sales surged the most in nearly 15 years last month while median prices hit an all-time high and sale times narrowed as