Atlassian (NASDAQ:TEAM) had its price target raised by investment analysts at Canaccord Genuity from $60.00 to $65.00 in a research note issued on Friday. The firm currently has a “buy” rating on the technology company’s stock. Canaccord Genuity’s price target would indicate a potential upside of 11.67% from the stock’s current price.
TEAM has been the subject of several other research reports. Zacks Investment Research downgraded shares of Atlassian from a “hold” rating to a “sell” rating in a research note on Wednesday, January 24th. Jefferies Group increased their price objective on shares of Atlassian to $64.00 and gave the company a “buy” rating in a research note on Friday, January 19th. Morgan Stanley set a $63.00 price objective on shares of Atlassian and gave the company a “buy” rating in a research note on Friday, January 19th. BidaskClub downgraded shares of Atlassian from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 28th. Finally, Robert W. Baird reissued a “buy” rating and issued a $65.00 price objective on shares of Atlassian in a research note on Friday, March 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $60.30.
Shares of NASDAQ:TEAM opened at $58.21 on Friday. The company has a market capitalization of $6,202.04, a P/E ratio of -1,940.17 and a beta of 2.29. Atlassian has a one year low of $31.20 and a one year high of $62.78.
Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, January 18th. The technology company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.04). The company had revenue of $212.63 million during the quarter, compared to the consensus estimate of $204.40 million. Atlassian had a negative net margin of 14.19% and a negative return on equity of 3.17%. equities analysts expect that Atlassian will post -0.08 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC bought a new position in shares of Atlassian during the fourth quarter valued at $116,000. Nelson Roberts Investment Advisors LLC bought a new position in shares of Atlassian during the fourth quarter valued at $123,000. Public Employees Retirement Association of Colorado raised its stake in shares of Atlassian by 50.7% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 3,464 shares of the technology company’s stock valued at $158,000 after acquiring an additional 1,165 shares during the last quarter. Elkfork Partners LLC bought a new position in shares of Atlassian during the fourth quarter valued at $183,000. Finally, SeaCrest Wealth Management LLC bought a new position in shares of Atlassian during the fourth quarter valued at $201,000. 88.35% of the stock is owned by hedge funds and other institutional investors.
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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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