Shares of Atlassian Co. PLC (NASDAQ:TEAM) have been assigned an average rating of “Buy” from the seventeen brokerages that are presently covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $82.00.
A number of analysts recently weighed in on TEAM shares. Cowen restated a “buy” rating and issued a $90.00 target price on shares of Atlassian in a research report on Friday, July 27th. DA Davidson boosted their target price on Atlassian to $88.00 and gave the stock a “buy” rating in a research report on Friday, July 27th. Canaccord Genuity restated a “buy” rating and issued a $85.00 target price (up previously from $65.00) on shares of Atlassian in a research report on Friday, July 27th. Zacks Investment Research upgraded Atlassian from a “hold” rating to a “buy” rating and set a $97.00 target price for the company in a research report on Saturday, September 8th. Finally, BidaskClub downgraded Atlassian from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 5th.
NASDAQ:TEAM traded up $1.91 during mid-day trading on Thursday, reaching $72.13. The stock had a trading volume of 827,748 shares, compared to its average volume of 1,466,169. The company has a market capitalization of $7.46 billion, a price-to-earnings ratio of -1,030.43, a PEG ratio of 59.11 and a beta of 2.73. Atlassian has a one year low of $43.11 and a one year high of $98.21. The company has a debt-to-equity ratio of 1.16, a current ratio of 4.17 and a quick ratio of 4.17.
Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, October 18th. The technology company reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.01. The company had revenue of $267.30 million during the quarter, compared to the consensus estimate of $259.67 million. Atlassian had a negative return on equity of 0.75% and a negative net margin of 36.71%. Atlassian’s quarterly revenue was up 36.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 EPS. As a group, sell-side analysts anticipate that Atlassian will post 0.09 EPS for the current year.
Institutional investors have recently made changes to their positions in the business. FNY Investment Advisers LLC purchased a new position in Atlassian in the 3rd quarter worth approximately $120,000. GWM Advisors LLC purchased a new position in Atlassian in the 3rd quarter worth approximately $214,000. GAM Holding AG purchased a new position in Atlassian in the 3rd quarter worth approximately $217,000. Oppenheimer & Co. Inc. purchased a new position in Atlassian in the 2nd quarter worth approximately $218,000. Finally, Prudential Financial Inc. purchased a new position in Atlassian in the 3rd quarter worth approximately $221,000. 89.43% of the stock is currently owned by institutional investors and hedge funds.
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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