Atlassian Co. PLC (NASDAQ:TEAM) has been assigned an average recommendation of “Buy” from the seventeen analysts that are presently covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $72.70.
A number of analysts have commented on TEAM shares. Zacks Investment Research cut Atlassian from a “buy” rating to a “hold” rating in a research report on Thursday, April 26th. BMO Capital Markets lifted their price target on Atlassian from $56.00 to $65.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 18th. They noted that the move was a valuation call. Cowen reaffirmed a “buy” rating and set a $90.00 price target on shares of Atlassian in a research report on Friday, July 27th. ValuEngine raised Atlassian from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Finally, DA Davidson started coverage on Atlassian in a research note on Wednesday, May 23rd. They set a “buy” rating and a $74.00 price objective for the company.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Artisan Partners Limited Partnership raised its stake in shares of Atlassian by 27.3% during the 2nd quarter. Artisan Partners Limited Partnership now owns 10,257,648 shares of the technology company’s stock valued at $641,308,000 after buying an additional 2,198,491 shares during the last quarter. FMR LLC increased its stake in shares of Atlassian by 14.1% in the 2nd quarter. FMR LLC now owns 9,000,442 shares of the technology company’s stock valued at $562,708,000 after purchasing an additional 1,112,999 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Atlassian by 0.7% in the 2nd quarter. Janus Henderson Group PLC now owns 7,071,287 shares of the technology company’s stock valued at $442,097,000 after purchasing an additional 51,133 shares in the last quarter. BlackRock Inc. increased its stake in shares of Atlassian by 2.3% in the 1st quarter. BlackRock Inc. now owns 2,244,216 shares of the technology company’s stock valued at $121,008,000 after purchasing an additional 50,765 shares in the last quarter. Finally, Swedbank purchased a new position in shares of Atlassian in the 1st quarter valued at about $114,580,000. Institutional investors and hedge funds own 89.41% of the company’s stock.
TEAM traded down $0.24 on Tuesday, reaching $78.07. 865,379 shares of the stock were exchanged, compared to its average volume of 1,478,068. Atlassian has a fifty-two week low of $33.16 and a fifty-two week high of $79.82. The stock has a market cap of $7.80 billion, a P/E ratio of -1,115.29, a P/E/G ratio of 80.57 and a beta of 2.44.
Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, July 26th. The technology company reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.01. Atlassian had a negative return on equity of 2.30% and a negative net margin of 13.65%. The company had revenue of $243.80 million during the quarter, compared to analysts’ expectations of $233.42 million. During the same quarter in the previous year, the firm posted $0.09 EPS. The firm’s revenue was up 39.9% compared to the same quarter last year. equities research analysts predict that Atlassian will post 0.07 EPS for the current fiscal year.
Atlassian Corporation Plc, through its subsidiaries, provides team collaboration and productivity software solutions worldwide. It offers project tracking, content creation and sharing, real-time communication, and service management products to large and small organizations. The company's products include JIRA, a workflow management system that enables teams to plan, organize, track, and manage their work and projects; Confluence, a content collaboration platform that is used to create, share, organize, and discuss projects; HipChat that provides teams a way to communicate in real-time and share ideas, updates, codes, and files; Trello, a Web-based project management application for capturing and adding structure to fluid and fast-forming work for teams; Bitbucket, a code management and collaboration product for teams using distributed version control systems; and JIRA Service Desk, a service desk product for creating and managing service experiences for various service team providers, including IT help desks, and legal and HR teams.
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