Atlassian Corporation PLC (TEAM) PT Raised to $47.00
Atlassian Corporation PLC (NASDAQ:TEAM) had its target price boosted by stock analysts at JMP Securities from $41.00 to $47.00 in a research report issued on Friday, The Fly reports. The brokerage presently has an “outperform” rating on the technology company’s stock. JMP Securities’ price target points to a potential downside of 6.32% from the company’s current price.
Several other brokerages also recently issued reports on TEAM. Zacks Investment Research downgraded shares of Atlassian Corporation PLC from a “buy” rating to a “hold” rating in a report on Saturday, July 15th. Robert W. Baird reiterated a “buy” rating and set a $43.00 price target on shares of Atlassian Corporation PLC in a report on Thursday, September 14th. Morgan Stanley upgraded shares of Atlassian Corporation PLC from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $35.00 to $45.00 in a report on Tuesday, July 25th. Canaccord Genuity reiterated a “buy” rating and set a $44.00 price target on shares of Atlassian Corporation PLC in a report on Friday, September 15th. Finally, BMO Capital Markets upped their price target on shares of Atlassian Corporation PLC from $33.00 to $40.00 and gave the stock a “market perform” rating in a report on Friday, July 7th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $46.73.
Atlassian Corporation PLC (TEAM) traded up 24.65% during midday trading on Friday, hitting $50.17. The stock had a trading volume of 7,227,184 shares. The company has a 50-day moving average of $37.04 and a 200-day moving average of $35.59. Atlassian Corporation PLC has a 1-year low of $23.80 and a 1-year high of $50.88. The stock’s market cap is $11.40 billion.
Atlassian Corporation PLC (NASDAQ:TEAM) last released its earnings results on Thursday, October 19th. The technology company reported $0.12 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.17. Atlassian Corporation PLC had a negative return on equity of 2.16% and a negative net margin of 7.96%. The firm had revenue of $193.80 million during the quarter, compared to analysts’ expectations of $185.78 million. During the same period in the prior year, the company earned $0.10 earnings per share. The company’s quarterly revenue was up 41.7% on a year-over-year basis. Equities research analysts forecast that Atlassian Corporation PLC will post $0.33 EPS for the current year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of TEAM. Tower Research Capital LLC TRC increased its holdings in Atlassian Corporation PLC by 895.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,166 shares of the technology company’s stock valued at $111,000 after purchasing an additional 2,848 shares during the period. Russell Investments Group Ltd. increased its holdings in Atlassian Corporation PLC by 0.8% in the second quarter. Russell Investments Group Ltd. now owns 5,549 shares of the technology company’s stock valued at $196,000 after purchasing an additional 46 shares during the period. BlueCrest Capital Management Ltd acquired a new stake in Atlassian Corporation PLC in the first quarter valued at $221,000. Quantitative Systematic Strategies LLC acquired a new stake in Atlassian Corporation PLC in the third quarter valued at $232,000. Finally, Virtu KCG Holdings LLC acquired a new stake in Atlassian Corporation PLC in the second quarter valued at $287,000. Institutional investors and hedge funds own 78.57% of the company’s stock.
About Atlassian Corporation PLC
Atlassian Corporation Plc is a holding company. The Company offers a range of team collaboration products. The Company offers products, including JIRA, Confluence, HipChat, Bitbucket and JIRA Service Desk, for software developers, information technology (IT) managers and knowledge workers. The Company offers JIRA for team planning and project management; Confluence for team content creation and sharing; HipChat for team real-time messaging and communications; Bitbucket for team code sharing and management, and JIRA Service Desk for team service and support applications.
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