Atlassian (TEAM) Shares Gap Down to $111.19

Atlassian Co. PLC (NASDAQ:TEAM) gapped down prior to trading on Friday . The stock had previously closed at $120.98, but opened at $111.19. Atlassian shares last traded at $101.94, with a volume of 7536300 shares trading hands.

A number of research firms have recently commented on TEAM. Robert W. Baird upped their price objective on shares of Atlassian from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Canaccord Genuity increased their target price on shares of Atlassian from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. They noted that the move was a valuation call. Jefferies Financial Group increased their target price on shares of Atlassian from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. KeyCorp increased their target price on shares of Atlassian from $110.00 to $121.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Finally, Zacks Investment Research raised shares of Atlassian from a “hold” rating to a “buy” rating and set a $129.00 target price on the stock in a research note on Thursday, April 4th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $114.71.

The company has a market capitalization of $10.83 billion, a PE ratio of -1,456.29, a price-to-earnings-growth ratio of 109.39 and a beta of 1.85. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 1.02.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in Atlassian by 7.7% during the third quarter. BlackRock Inc. now owns 2,287,368 shares of the technology company’s stock worth $219,906,000 after buying an additional 163,344 shares during the last quarter. Vanguard Group Inc. raised its holdings in Atlassian by 20.6% during the third quarter. Vanguard Group Inc. now owns 547,798 shares of the technology company’s stock worth $52,666,000 after buying an additional 93,536 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Atlassian by 9.5% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 121,033 shares of the technology company’s stock worth $10,770,000 after buying an additional 10,522 shares during the last quarter. Geode Capital Management LLC raised its holdings in Atlassian by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 300,255 shares of the technology company’s stock worth $26,716,000 after buying an additional 22,604 shares during the last quarter. Finally, Signition LP acquired a new position in Atlassian during the fourth quarter worth $1,513,000. Hedge funds and other institutional investors own 91.21% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Atlassian (TEAM) Shares Gap Down to $111.19” was reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this story on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright laws. The legal version of this story can be read at https://www.chaffeybreeze.com/2019/04/19/atlassian-team-shares-gap-down-to-111-19.html.

Atlassian Company Profile (NASDAQ:TEAM)

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.

Recommended Story: Why is a lock-up period needed for an IPO?

Receive News & Ratings for Atlassian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atlassian and related companies with MarketBeat.com's FREE daily email newsletter.