BidaskClub upgraded shares of Atlassian (NASDAQ:TEAM) from a buy rating to a strong-buy rating in a research report sent to investors on Monday, February 4th.
TEAM has been the topic of several other research reports. Jefferies Financial Group upped their price target on shares of Atlassian to $90.00 and gave the stock a hold rating in a research report on Friday, January 18th. Oppenheimer upped their price target on shares of Atlassian from $95.00 to $110.00 in a research report on Friday, January 18th. Robert W. Baird upped their price target on shares of Atlassian from $88.00 to $110.00 and gave the stock an outperform rating in a research report on Friday, January 18th. Morgan Stanley downgraded shares of Atlassian from an equal rating to a weight rating in a research report on Tuesday, January 15th. Finally, Zacks Investment Research upgraded shares of Atlassian from a hold rating to a buy rating and set a $87.00 target price on the stock in a research report on Friday, November 9th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $105.92.
Shares of TEAM traded up $3.47 during trading hours on Monday, hitting $110.95. The stock had a trading volume of 1,987,112 shares, compared to its average volume of 1,308,674. The firm has a market cap of $11.18 billion, a price-to-earnings ratio of -1,585.00, a PEG ratio of 94.50 and a beta of 1.85. 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 has a 52 week low of $50.84 and a 52 week high of $111.76.
Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, January 17th. The technology company reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.15). The company had revenue of $299.00 million for the quarter, compared to analyst estimates of $288.28 million. Atlassian had a positive return on equity of 3.01% and a negative net margin of 22.96%. The firm’s quarterly revenue was up 40.6% on a year-over-year basis. During the same quarter last year, the company earned $0.13 EPS. As a group, sell-side analysts anticipate that Atlassian will post 0.08 EPS for the current fiscal year.
Several large investors have recently made changes to their positions in TEAM. Capital Research Global Investors acquired a new stake in shares of Atlassian in the 3rd quarter valued at approximately $638,894,000. FMR LLC raised its position in shares of Atlassian by 14.1% in the 2nd quarter. FMR LLC now owns 9,000,442 shares of the technology company’s stock valued at $562,708,000 after acquiring an additional 1,112,999 shares during the period. Renaissance Technologies LLC raised its position in shares of Atlassian by 48.6% in the 3rd quarter. Renaissance Technologies LLC now owns 2,189,700 shares of the technology company’s stock valued at $210,518,000 after acquiring an additional 716,300 shares during the period. Acadian Asset Management LLC raised its position in shares of Atlassian by 319.9% in the 3rd quarter. Acadian Asset Management LLC now owns 915,533 shares of the technology company’s stock valued at $88,018,000 after acquiring an additional 697,504 shares during the period. Finally, Hsbc Holdings PLC raised its position in shares of Atlassian by 441.0% in the 4th quarter. Hsbc Holdings PLC now owns 797,630 shares of the technology company’s stock valued at $70,973,000 after acquiring an additional 650,185 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.
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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