Shares of Atlassian Co. PLC (NASDAQ:TEAM) have earned a consensus recommendation of “Buy” from the twenty-one analysts that are presently covering the stock, Marketbeat reports. Nine investment analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $140.47.
Several research analysts have issued reports on the company. TheStreet cut Atlassian from a “c-” rating to a “d” rating in a report on Thursday, July 25th. Zacks Investment Research raised shares of Atlassian from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. KeyCorp boosted their target price on shares of Atlassian from $142.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Cowen set a $152.00 target price on shares of Atlassian and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, William Blair reissued a “buy” rating on shares of Atlassian in a research report on Friday, September 13th.
Several institutional investors and hedge funds have recently made changes to their positions in TEAM. Creative Financial Designs Inc. ADV bought a new stake in Atlassian during the second quarter worth about $26,000. Captrust Financial Advisors lifted its holdings in Atlassian by 233.3% in the second quarter. Captrust Financial Advisors now owns 300 shares of the technology company’s stock valued at $39,000 after buying an additional 210 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Atlassian in the second quarter valued at approximately $41,000. CWM LLC acquired a new position in Atlassian in the second quarter valued at approximately $43,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Atlassian by 1,870.0% in the second quarter. Tower Research Capital LLC TRC now owns 394 shares of the technology company’s stock valued at $52,000 after buying an additional 374 shares during the period. 87.20% of the stock is owned by institutional investors and hedge funds.
Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, July 25th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.26. The company had revenue of $334.59 million for the quarter, compared to analysts’ expectations of $330.60 million. Atlassian had a negative return on equity of 2.45% and a negative net margin of 52.69%. The firm’s revenue was up 35.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 earnings per share. As a group, equities research analysts expect that Atlassian will post 0.09 earnings per share 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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