Atlassian Corporation PLC’s (TEAM) “Buy” Rating Reiterated at Canaccord Genuity
Atlassian Corporation PLC (NASDAQ:TEAM)‘s stock had its “buy” rating reaffirmed by equities research analysts at Canaccord Genuity in a note issued to investors on Friday, The Fly reports. They currently have a $52.00 target price on the technology company’s stock, up from their previous target price of $44.00. Canaccord Genuity’s price objective indicates a potential upside of 3.65% from the company’s current price.
Other analysts have also issued reports about the stock. KeyCorp restated a “sector weight” rating on shares of Atlassian Corporation PLC in a research note on Monday, September 18th. Jefferies Group LLC upped their target price on shares of Atlassian Corporation PLC to $53.00 and gave the stock a “buy” rating in a research note on Friday. JMP Securities upped their target price on shares of Atlassian Corporation PLC from $41.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday. BTIG Research restated a “neutral” rating on shares of Atlassian Corporation PLC in a research note on Tuesday, August 15th. Finally, Cowen and Company restated a “buy” rating and set a $43.00 target price on shares of Atlassian Corporation PLC in a research note on Friday, July 28th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $46.73.
Shares of Atlassian Corporation PLC (NASDAQ TEAM) traded up 24.65% on Friday, hitting $50.17. 7,227,184 shares of the stock were exchanged. The company’s 50 day moving average is $37.04 and its 200-day moving average is $35.59. The stock’s market cap is $11.40 billion. Atlassian Corporation PLC has a 52-week low of $23.80 and a 52-week high of $50.88.
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 Zacks’ consensus estimate of ($0.05) by $0.17. Atlassian Corporation PLC had a negative net margin of 7.96% and a negative return on equity of 2.16%. The firm had revenue of $193.80 million for the quarter, compared to analyst estimates of $185.78 million. During the same period in the prior year, the firm earned $0.10 earnings per share. The business’s quarterly revenue was up 41.7% compared to the same quarter last year. Analysts predict that Atlassian Corporation PLC will post $0.33 EPS for the current fiscal year.
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A number of institutional investors have recently made changes to their positions in the business. Glynn Capital Management LLC increased its stake in Atlassian Corporation PLC by 5.3% in the third quarter. Glynn Capital Management LLC now owns 512,460 shares of the technology company’s stock valued at $18,013,000 after purchasing an additional 25,606 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new position in Atlassian Corporation PLC in the third quarter valued at approximately $232,000. Paulson & CO. Inc. increased its stake in Atlassian Corporation PLC by 152.8% in the second quarter. Paulson & CO. Inc. now owns 397,900 shares of the technology company’s stock valued at $13,998,000 after purchasing an additional 240,485 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in Atlassian Corporation PLC in the second quarter valued at approximately $12,263,000. Finally, Public Employees Retirement System of Ohio increased its stake in Atlassian Corporation PLC by 542.4% in the second quarter. Public Employees Retirement System of Ohio now owns 28,296 shares of the technology company’s stock valued at $995,000 after purchasing an additional 23,891 shares during the last quarter. Institutional investors own 78.57% of the company’s stock.
Atlassian Corporation PLC Company Profile
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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