Atlassian Co. PLC (TEAM) Receives $115.54 Consensus Target Price from Analysts

Atlassian Co. PLC (NASDAQ:TEAM) has received a consensus rating of “Buy” from the nineteen research firms that are currently covering the firm, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $115.25.

Several equities research analysts recently weighed in on the company. Canaccord Genuity raised their price objective on Atlassian from $105.00 to $125.00 and gave the company a “buy” rating in a report on Friday, April 12th. They noted that the move was a valuation call. BidaskClub downgraded Atlassian from a “strong-buy” rating to a “buy” rating in a report on Friday. Deutsche Bank assumed coverage on Atlassian in a report on Wednesday, February 27th. They set a “hold” rating and a $114.00 price objective on the stock. Oppenheimer raised their price objective on Atlassian from $95.00 to $110.00 in a report on Friday, January 18th. Finally, KeyCorp raised their price objective on Atlassian from $110.00 to $121.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Oakbrook Investments LLC lifted its holdings in Atlassian by 6.0% during the 1st quarter. Oakbrook Investments LLC now owns 2,650 shares of the technology company’s stock worth $298,000 after buying an additional 150 shares during the period. Wedbush Securities Inc. raised its position in shares of Atlassian by 9.9% in the 1st quarter. Wedbush Securities Inc. now owns 9,896 shares of the technology company’s stock worth $1,112,000 after acquiring an additional 895 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Atlassian by 16.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 2,100 shares of the technology company’s stock worth $236,000 after acquiring an additional 300 shares in the last quarter. Flagship Harbor Advisors LLC raised its position in shares of Atlassian by 27.2% in the 1st quarter. Flagship Harbor Advisors LLC now owns 2,060 shares of the technology company’s stock worth $231,000 after acquiring an additional 440 shares in the last quarter. Finally, Virtu Financial LLC raised its position in shares of Atlassian by 19.7% in the 1st quarter. Virtu Financial LLC now owns 4,892 shares of the technology company’s stock worth $550,000 after acquiring an additional 804 shares in the last quarter. 91.21% of the stock is currently owned by hedge funds and other institutional investors.

Shares of TEAM stock traded down $9.25 during trading hours on Friday, reaching $101.94. The company’s stock had a trading volume of 7,536,300 shares, compared to its average volume of 1,746,083. The company has a market cap of $10.83 billion, a PE ratio of -1,456.29, a P/E/G ratio of 109.39 and a beta of 1.85. Atlassian has a fifty-two week low of $54.54 and a fifty-two week high of $117.06. The company has a debt-to-equity ratio of 1.02, a quick ratio of 3.44 and a current ratio of 3.44.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Wednesday, April 17th. The technology company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.26). The business had revenue of $309.30 million during the quarter, compared to analyst estimates of $304.68 million. Atlassian had a negative net margin of 22.96% and a positive return on equity of 3.01%. The company’s revenue for the quarter was up 37.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 EPS. On average, equities analysts predict that Atlassian will post 0.08 EPS for the current fiscal year.

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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Analyst Recommendations for Atlassian (NASDAQ:TEAM)

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