Atlassian (NASDAQ:TEAM)‘s stock had its “buy” rating reiterated by William Blair in a research report issued to clients and investors on Friday, TipRanks reports.
Several other brokerages have also issued reports on TEAM. Canaccord Genuity boosted their price target on Atlassian from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, July 26th. TheStreet lowered Atlassian from a “c-” rating to a “d” rating in a research note on Thursday, July 25th. Bank of America restated a “neutral” rating and set a $147.00 price objective (up previously from $138.00) on shares of Atlassian in a report on Friday, July 26th. DA Davidson boosted their price objective on Atlassian to $155.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Morgan Stanley upgraded Atlassian from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $99.00 to $145.00 in a report on Thursday, May 23rd. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $138.27.
TEAM traded up $2.72 during trading on Friday, hitting $129.91. The company’s stock had a trading volume of 548,930 shares, compared to its average volume of 1,408,012. Atlassian has a twelve month low of $65.17 and a twelve month high of $149.80. The stock’s fifty day moving average price is $138.63 and its 200-day moving average price is $124.99. The firm has a market capitalization of $15.09 billion, a P/E ratio of -764.18, a PEG ratio of 90.92 and a beta of 1.33.
Atlassian (NASDAQ:TEAM) last issued 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. Atlassian had a negative return on equity of 2.45% and a negative net margin of 52.69%. The firm had revenue of $334.59 million for the quarter, compared to analyst estimates of $330.60 million. During the same period in the previous year, the firm earned $0.14 earnings per share. The company’s revenue was up 35.7% compared to the same quarter last year. Equities analysts predict that Atlassian will post 0.09 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pendal Group Ltd bought a new stake in Atlassian during the second quarter worth $347,020,000. Price T Rowe Associates Inc. MD grew its holdings in Atlassian by 22.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 11,208,294 shares of the technology company’s stock worth $1,466,493,000 after buying an additional 2,059,713 shares in the last quarter. Morgan Stanley grew its holdings in Atlassian by 168.3% during the second quarter. Morgan Stanley now owns 2,139,661 shares of the technology company’s stock worth $279,953,000 after buying an additional 1,342,168 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Atlassian by 54.8% during the second quarter. JPMorgan Chase & Co. now owns 3,144,350 shares of the technology company’s stock worth $412,036,000 after buying an additional 1,113,490 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Atlassian by 435.8% during the second quarter. Invesco Ltd. now owns 1,242,890 shares of the technology company’s stock worth $162,620,000 after buying an additional 1,010,904 shares in the last quarter. Hedge funds and other institutional investors own 87.20% 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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