Shares of Atlassian Co. PLC (NASDAQ:TEAM) have received an average rating of “Buy” from the seventeen research firms that are covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $55.89.
Several equities analysts have recently issued reports on the stock. Guggenheim reaffirmed a “hold” rating and set a $50.00 price target on shares of Atlassian in a research note on Friday. Morgan Stanley set a $63.00 price target on shares of Atlassian and gave the company a “buy” rating in a research note on Friday. BMO Capital Markets reaffirmed a “market perform” rating and set a $56.00 price target (up previously from $51.00) on shares of Atlassian in a research note on Friday. They noted that the move was a valuation call. Jefferies Group raised their price target on shares of Atlassian to $64.00 and gave the company a “buy” rating in a research note on Friday. Finally, BidaskClub raised shares of Atlassian from a “buy” rating to a “strong-buy” rating in a research note on Thursday.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Artisan Partners Limited Partnership raised its stake in Atlassian by 28.4% during the third quarter. Artisan Partners Limited Partnership now owns 7,543,086 shares of the technology company’s stock worth $265,139,000 after buying an additional 1,668,292 shares during the last quarter. Janus Henderson Group PLC bought a new position in Atlassian during the second quarter worth $251,088,000. FMR LLC raised its stake in Atlassian by 148.8% during the second quarter. FMR LLC now owns 5,448,713 shares of the technology company’s stock worth $191,686,000 after buying an additional 3,258,877 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Atlassian by 0.5% during the third quarter. JPMorgan Chase & Co. now owns 1,872,278 shares of the technology company’s stock worth $64,575,000 after buying an additional 9,462 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Atlassian by 25.9% during the second quarter. Renaissance Technologies LLC now owns 1,063,800 shares of the technology company’s stock worth $37,424,000 after buying an additional 219,000 shares during the last quarter. 80.92% of the stock is owned by institutional investors and hedge funds.
Shares of Atlassian (NASDAQ:TEAM) traded down $0.81 during trading on Friday, reaching $52.26. 1,630,000 shares of the company’s stock were exchanged, compared to its average volume of 1,030,000. Atlassian has a 1 year low of $26.96 and a 1 year high of $55.91. The firm has a market capitalization of $12,030.00 and a price-to-earnings ratio of -102.47.
Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, October 19th. The technology company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.17. Atlassian had a negative net margin of 15.85% and a negative return on equity of 4.00%. The firm had revenue of $193.80 million for the quarter, compared to analyst estimates of $185.78 million. During the same quarter last year, the business posted $0.10 earnings per share. The company’s quarterly revenue was up 41.7% on a year-over-year basis. equities research analysts forecast that Atlassian will post -0.13 earnings per share for the current year.
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Atlassian Corporation Plc is a holding company. The Company offers a range of team collaboration products. The Company offers products, including JIRA, Confluence, HipChat, Bitbucket and JIRA Service Desk, for software developers, information technology (IT) managers and knowledge workers. The Company offers JIRA for team planning and project management; Confluence for team content creation and sharing; HipChat for team real-time messaging and communications; Bitbucket for team code sharing and management, and JIRA Service Desk for team service and support applications.
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