Atlassian (NASDAQ:TEAM) had its price target upped by analysts at Oppenheimer in a research report issued to clients and investors on Thursday. The brokerage currently has an “outperform” rating on the technology company’s stock.
Several other research firms have also issued reports on TEAM. Zacks Investment Research lowered shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Saturday, November 11th. Robert W. Baird lifted their price objective on shares of Atlassian from $43.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, October 20th. Summit Redstone reaffirmed a “buy” rating on shares of Atlassian in a research note on Thursday, October 19th. BMO Capital Markets lifted their price objective on shares of Atlassian to $51.00 and gave the company a “market perform” rating in a research note on Friday, October 20th. Finally, Cowen reaffirmed an “outperform” rating and issued a $55.00 price objective (up previously from $47.00) on shares of Atlassian in a research note on Friday, October 20th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $49.20.
Shares of Atlassian (NASDAQ:TEAM) opened at $50.40 on Thursday. Atlassian has a 52 week low of $24.63 and a 52 week high of $53.45. The stock has a market cap of $4,592.58, a price-to-earnings ratio of -209.99 and a beta of 2.64.
Atlassian (NASDAQ:TEAM) last released its quarterly earnings data 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. Atlassian had a negative net margin of 7.96% and a negative return on equity of 2.11%. The business had revenue of $193.80 million during the quarter, compared to analyst estimates of $185.78 million. During the same quarter in the previous year, the business earned $0.10 EPS. Atlassian’s quarterly revenue was up 41.7% compared to the same quarter last year. equities research analysts predict that Atlassian will post -0.13 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in TEAM. Russell Investments Group Ltd. lifted its position in Atlassian by 0.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 5,549 shares of the technology company’s stock worth $196,000 after acquiring an additional 46 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Atlassian by 189.3% during the 2nd quarter. Rhumbline Advisers now owns 78,226 shares of the technology company’s stock worth $2,752,000 after purchasing an additional 51,182 shares during the period. State of Wisconsin Investment Board bought a new position in shares of Atlassian during the 2nd quarter worth about $512,000. Bank of New York Mellon Corp increased its holdings in shares of Atlassian by 173.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 152,805 shares of the technology company’s stock worth $5,375,000 after purchasing an additional 96,854 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Atlassian by 36.0% during the 2nd quarter. Legal & General Group Plc now owns 17,681 shares of the technology company’s stock worth $622,000 after purchasing an additional 4,683 shares during the period. 80.99% of the stock is owned by hedge funds and other institutional investors.
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Atlassian 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.