Atlassian Co. PLC (NASDAQ:TEAM) has been given an average rating of “Buy” by the sixteen ratings firms that are currently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $77.50.
A number of equities analysts recently commented on the stock. DA Davidson raised their price target on shares of Atlassian from $88.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday. Jefferies Financial Group raised their price target on shares of Atlassian to $83.00 and gave the stock a “hold” rating in a research report on Tuesday. Canaccord Genuity reaffirmed a “buy” rating and set a $100.00 price target on shares of Atlassian in a research report on Tuesday. Cowen reaffirmed a “buy” rating and set a $90.00 price target on shares of Atlassian in a research report on Friday, July 27th. Finally, BMO Capital Markets raised their price target on shares of Atlassian from $64.00 to $82.00 and gave the stock a “market perform” rating in a research report on Friday, July 27th. They noted that the move was a valuation call.
Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its holdings in 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 buying an additional 471,860 shares during the period. Leonetti & Associates LLC increased its holdings in Atlassian by 3.4% in the 2nd quarter. Leonetti & Associates LLC now owns 123,400 shares of the technology company’s stock valued at $7,715,000 after buying an additional 4,050 shares during the period. Zacks Investment Management increased its holdings in Atlassian by 5.5% in the 2nd quarter. Zacks Investment Management now owns 17,490 shares of the technology company’s stock valued at $1,093,000 after buying an additional 918 shares during the period. Vident Investment Advisory LLC bought a new position in Atlassian in the 2nd quarter valued at about $896,000. Finally, Sterling Capital Management LLC increased its holdings in Atlassian by 1.5% in the 2nd quarter. Sterling Capital Management LLC now owns 154,827 shares of the technology company’s stock valued at $9,680,000 after buying an additional 2,227 shares during the period. 98.99% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ TEAM traded down $0.93 during mid-day trading on Friday, reaching $86.68. 1,829,754 shares of the company were exchanged, compared to its average volume of 1,273,494. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.02 and a current ratio of 3.95. The stock has a market cap of $9.56 billion, a PE ratio of -1,242.43, a P/E/G ratio of 92.60 and a beta of 2.61. Atlassian has a twelve month low of $33.16 and a twelve month high of $92.26.
Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, July 26th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. The company had revenue of $243.80 million during the quarter, compared to analysts’ expectations of $233.42 million. Atlassian had a negative net margin of 13.65% and a negative return on equity of 2.30%. Atlassian’s quarterly revenue was up 39.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.09 EPS. analysts predict that Atlassian will post 0.07 EPS for the current fiscal year.
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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