Mizuho began coverage on shares of Atlassian (NASDAQ:TEAM) in a report released on Wednesday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $120.00 price target on the technology company’s stock. Mizuho’s price objective suggests a potential upside of 8.62% from the stock’s previous close.
TEAM has been the subject of a number of other research reports. BidaskClub raised shares of Atlassian from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 4th. Morgan Stanley cut shares of Atlassian from an “equal” rating to a “weight” rating in a research report on Tuesday, January 15th. Jefferies Financial Group increased their price objective on shares of Atlassian to $90.00 and gave the stock a “hold” rating in a research report on Friday, January 18th. BTIG Research raised their price target on shares of Atlassian to $125.00 and gave the company a “buy” rating in a research report on Friday, February 15th. Finally, Zacks Investment Research raised shares of Atlassian from a “hold” rating to a “buy” rating and set a $104.00 price target for the company in a research report on Saturday, January 19th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $107.50.
NASDAQ:TEAM opened at $110.48 on Wednesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 3.44 and a quick ratio of 3.44. The company has a market cap of $11.53 billion, a P/E ratio of -1,578.29, a P/E/G ratio of 99.61 and a beta of 1.85. Atlassian has a fifty-two week low of $50.84 and a fifty-two week high of $112.58.
Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, January 17th. The technology company reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.15). The company had revenue of $299.00 million for the quarter, compared to analysts’ expectations of $288.28 million. Atlassian had a positive return on equity of 3.01% and a negative net margin of 22.96%. The business’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.13 EPS. As a group, equities analysts forecast that Atlassian will post 0.08 EPS for the current year.
Hedge funds have recently modified their holdings of the business. Parallel Advisors LLC purchased a new position in Atlassian in the 4th quarter valued at approximately $25,000. Cornerstone Advisors Inc. purchased a new position in Atlassian in the 4th quarter valued at approximately $29,000. Meeder Asset Management Inc. purchased a new position in Atlassian in the 4th quarter valued at approximately $50,000. Financial Architects Inc lifted its position in shares of Atlassian by 159.1% during the 4th quarter. Financial Architects Inc now owns 570 shares of the technology company’s stock worth $51,000 after purchasing an additional 350 shares during the last quarter. Finally, WealthTrust Arizona LLC lifted its position in shares of Atlassian by 23.4% during the 4th quarter. WealthTrust Arizona LLC now owns 580 shares of the technology company’s stock worth $52,000 after purchasing an additional 110 shares during the last quarter. 90.38% of the stock is owned by institutional investors.
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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