Atlassian (NASDAQ:TEAM) has been given a $150.00 price objective by equities researchers at BMO Capital Markets in a research note issued on Friday, TipRanks reports. The firm currently has a “hold” rating on the technology company’s stock. BMO Capital Markets’ target price suggests a potential upside of 28.36% from the stock’s current price.
Several other equities research analysts have also recently weighed in on the company. Robert W. Baird boosted their price objective on Atlassian from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Zacks Investment Research raised Atlassian from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Bank of America reaffirmed a “neutral” rating and set a $147.00 target price (up previously from $138.00) on shares of Atlassian in a research note on Friday, July 26th. SunTrust Banks initiated coverage on Atlassian in a research note on Wednesday, October 2nd. They set a “buy” rating and a $162.00 target price on the stock. Finally, Cowen reaffirmed a “buy” rating on shares of Atlassian in a research note on Friday. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $141.44.
NASDAQ TEAM traded down $5.78 during trading hours on Friday, hitting $116.86. 10,657,872 shares of the company were exchanged, compared to its average volume of 1,686,517. The stock has a 50-day moving average price of $129.09 and a 200 day moving average price of $128.40. Atlassian has a 52 week low of $65.17 and a 52 week high of $149.80. The stock has a market cap of $14.49 billion, a PE ratio of -687.41, a price-to-earnings-growth ratio of 88.84 and a beta of 1.31.
Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 17th. The technology company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.04. Atlassian had a negative return on equity of 2.76% and a negative net margin of 24.95%. The company had revenue of $363.40 million for the quarter, compared to analysts’ expectations of $351.79 million. During the same period in the previous year, the firm posted $0.20 earnings per share. The firm’s revenue for the quarter was up 36.0% on a year-over-year basis. As a group, analysts expect that Atlassian will post 0.1 EPS for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TEAM. L & S Advisors Inc bought a new position in Atlassian in the second quarter worth approximately $759,000. Morgens Waterfall Vintiadis & Co. Inc. grew its stake in Atlassian by 7.8% in the second quarter. Morgens Waterfall Vintiadis & Co. Inc. now owns 41,500 shares of the technology company’s stock worth $5,430,000 after purchasing an additional 3,000 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Atlassian by 15.2% in the second quarter. Envestnet Asset Management Inc. now owns 11,437 shares of the technology company’s stock worth $1,496,000 after purchasing an additional 1,507 shares in the last quarter. Castle Rock Wealth Management LLC grew its stake in Atlassian by 6.4% in the second quarter. Castle Rock Wealth Management LLC now owns 3,488 shares of the technology company’s stock worth $459,000 after purchasing an additional 211 shares in the last quarter. Finally, Aperio Group LLC grew its stake in Atlassian by 8.3% in the second quarter. Aperio Group LLC now owns 43,656 shares of the technology company’s stock worth $5,712,000 after purchasing an additional 3,357 shares in the last quarter. 87.19% of the stock is currently owned by hedge funds and other institutional investors.
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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