Atlassian (NASDAQ:TEAM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Atlassian Corporation Plc is engaged in designing, developing, licensing and maintaining of software and the provisioning of software hosting services. The Company’s products include JIRA for team planning and project management; Confluence for team content creation and sharing; HipChat for team messaging and communications; Bitbucket for team code sharing and management and JIRA Service Desk for team services and support applications. It offers tools for software developers consists of FishEye, Bamboo and SourceTree. Atlassian Corporation Plc is headquartered in Sydney, Australia. “
Several other analysts have also recently issued reports on the company. Morgan Stanley cut Atlassian from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $75.00 to $94.00 in a report on Thursday, October 4th. They noted that the move was a valuation call. Summit Insights cut Atlassian from a “buy” rating to a “hold” rating in a report on Friday, September 7th. DA Davidson upped their target price on Atlassian from $88.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, September 5th. Jefferies Financial Group upped their target price on Atlassian to $83.00 and gave the company a “hold” rating in a report on Tuesday, September 4th. Finally, Canaccord Genuity restated a “buy” rating and issued a $100.00 target price on shares of Atlassian in a report on Tuesday, September 4th. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Atlassian has a consensus rating of “Buy” and a consensus price target of $82.91.
NASDAQ:TEAM traded up $3.62 during trading hours on Wednesday, hitting $75.71. The company had a trading volume of 19,423 shares, compared to its average volume of 2,280,457. The company has a quick ratio of 4.17, a current ratio of 4.17 and a debt-to-equity ratio of 1.16. The stock has a market cap of $8.12 billion, a P/E ratio of -1,081.57, a PEG ratio of 64.38 and a beta of 2.73. Atlassian has a 1 year low of $43.11 and a 1 year high of $98.21.
Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, October 18th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.01. The company had revenue of $267.30 million during the quarter, compared to analysts’ expectations of $259.67 million. Atlassian had a negative return on equity of 0.75% and a negative net margin of 36.71%. The firm’s quarterly revenue was up 36.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.12 EPS. On average, equities analysts anticipate that Atlassian will post 0.09 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in the company. Artisan Partners Limited Partnership lifted its stake in shares of Atlassian by 27.3% in 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 purchasing an additional 2,198,491 shares during the last quarter. FMR LLC lifted 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 during the last quarter. Janus Henderson Group PLC lifted 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 during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Atlassian by 39.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,655,435 shares of the technology company’s stock valued at $103,497,000 after purchasing an additional 471,860 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Atlassian by 354.4% in the 2nd quarter. Bank of America Corp DE now owns 1,413,130 shares of the technology company’s stock valued at $88,349,000 after purchasing an additional 1,102,149 shares during the last quarter. 92.18% of the stock is currently owned by institutional investors and hedge funds.
Atlassian Company Profile
Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. It provides project tracking, content creation and sharing, and service management products. 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; and Trello, a Web-based project management application for capturing and adding structure to fluid, fast-forming work for teams.
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