BidaskClub upgraded shares of Atlassian (NASDAQ:TEAM) from a hold rating to a buy rating in a research report sent to investors on Friday morning, BidAskClub reports.
A number of other equities analysts have also commented on the stock. Goldman Sachs Group raised their price objective on shares of Atlassian from $194.00 to $219.00 and gave the stock a buy rating in a research note on Wednesday, June 24th. They noted that the move was a valuation call. SunTrust Banks reaffirmed a buy rating on shares of Atlassian in a research report on Tuesday, April 14th. Canaccord Genuity reissued a buy rating on shares of Atlassian in a research report on Friday, May 1st. Mizuho increased their price objective on Atlassian from $175.00 to $200.00 and gave the stock a buy rating in a research note on Tuesday, May 26th. Finally, Morgan Stanley upped their target price on Atlassian from $165.00 to $173.00 and gave the company an overweight rating in a report on Friday, May 1st. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $171.35.
NASDAQ:TEAM opened at $190.08 on Friday. The stock has a fifty day simple moving average of $179.01 and a 200 day simple moving average of $150.16. The firm has a market capitalization of $23.17 billion, a price-to-earnings ratio of -218.48, a price-to-earnings-growth ratio of 43.07 and a beta of 1.02. Atlassian has a 1-year low of $107.00 and a 1-year high of $191.72.
Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, April 30th. The technology company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. Atlassian had a negative net margin of 13.37% and a positive return on equity of 0.84%. The company had revenue of $411.60 million during the quarter, compared to analyst estimates of $396.22 million. During the same period in the prior year, the firm earned $0.21 earnings per share. The business’s quarterly revenue was up 33.1% on a year-over-year basis. On average, analysts anticipate that Atlassian will post 0.13 EPS for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TEAM. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Atlassian by 3.3% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 119,445 shares of the technology company’s stock valued at $13,425,000 after acquiring an additional 3,812 shares during the last quarter. Comerica Bank boosted its position in Atlassian by 18.4% during the fourth quarter. Comerica Bank now owns 4,035 shares of the technology company’s stock worth $604,000 after purchasing an additional 627 shares during the period. KBC Group NV acquired a new position in Atlassian during the fourth quarter valued at approximately $333,000. Alphasimplex Group LLC bought a new position in shares of Atlassian in the fourth quarter valued at approximately $243,000. Finally, Schroder Investment Management Group raised its position in shares of Atlassian by 95.4% in the fourth quarter. Schroder Investment Management Group now owns 676 shares of the technology company’s stock valued at $81,000 after purchasing an additional 330 shares during the period. Institutional investors own 93.34% of the company’s stock.
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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