Atlassian Corporation PLC’s (TEAM) “Buy” Rating Reaffirmed at Summit Redstone
Atlassian Corporation PLC (NASDAQ:TEAM)‘s stock had its “buy” rating restated by research analysts at Summit Redstone in a research report issued on Thursday.
Several other research firms have also issued reports on TEAM. Zacks Investment Research upgraded shares of Atlassian Corporation PLC from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Friday, July 14th. Morgan Stanley upgraded shares of Atlassian Corporation PLC from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $35.00 to $45.00 in a report on Tuesday, July 25th. Robert W. Baird set a $43.00 target price on shares of Atlassian Corporation PLC and gave the company a “buy” rating in a report on Friday, October 6th. Oppenheimer Holdings, Inc. boosted their target price on shares of Atlassian Corporation PLC to $50.00 and gave the company an “outperform” rating in a report on Friday, October 20th. Finally, Canaccord Genuity restated a “buy” rating and issued a $44.00 target price on shares of Atlassian Corporation PLC in a report on Friday, September 15th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $46.73.
Shares of Atlassian Corporation PLC (NASDAQ TEAM) opened at 49.28 on Thursday. The company’s market cap is $11.20 billion. Atlassian Corporation PLC has a 52 week low of $23.80 and a 52 week high of $50.88. The firm’s 50-day moving average price is $37.78 and its 200 day moving average price is $35.93.
Atlassian Corporation PLC (NASDAQ:TEAM) last released its earnings results on Thursday, October 19th. The technology company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.17. The business had revenue of $193.80 million for the quarter, compared to analyst estimates of $185.78 million. Atlassian Corporation PLC had a negative net margin of 7.96% and a negative return on equity of 2.11%. Atlassian Corporation PLC’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 earnings per share. On average, equities analysts predict that Atlassian Corporation PLC will post $0.33 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This report was originally published by American Banking News and is the property of of American Banking News. If you are accessing this report on another website, it was copied illegally and republished in violation of U.S. and international copyright and trademark law. The original version of this report can be accessed at https://www.americanbankingnews.com/2017/10/25/atlassian-corporation-plcs-team-buy-rating-reaffirmed-at-summit-redstone.html.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its holdings in shares of Atlassian Corporation PLC by 895.6% during 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. Advisor Group Inc. raised its holdings in shares of Atlassian Corporation PLC by 884.9% during the third quarter. Advisor Group Inc. now owns 3,792 shares of the technology company’s stock valued at $114,000 after purchasing an additional 3,407 shares during the period. Royal Bank of Canada raised its holdings in shares of Atlassian Corporation PLC by 482.1% during the second quarter. Royal Bank of Canada now owns 4,139 shares of the technology company’s stock valued at $107,000 after purchasing an additional 3,428 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Atlassian Corporation PLC by 0.8% during 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. Finally, Hershey Trust Co. acquired a new position in shares of Atlassian Corporation PLC during the second quarter valued at about $152,000. Hedge funds and other institutional investors own 78.54% 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.
Receive News & Ratings for Atlassian Corporation PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atlassian Corporation PLC and related companies with MarketBeat.com's FREE daily email newsletter.