Jefferies Group Boosts Atlassian (TEAM) Price Target to $64.00

Atlassian (NASDAQ:TEAM) had its target price increased by research analysts at Jefferies Group to $64.00 in a report issued on Friday, The Fly reports. The brokerage presently has a “buy” rating on the technology company’s stock. Jefferies Group’s price objective indicates a potential upside of 20.60% from the company’s previous close.

TEAM has been the subject of several other reports. BidaskClub raised Atlassian from a “buy” rating to a “strong-buy” rating in a report on Thursday. Oppenheimer raised their price target on Atlassian to $58.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Canaccord Genuity reissued a “buy” rating and issued a $52.00 price target (up from $44.00) on shares of Atlassian in a report on Friday, October 20th. JMP Securities raised their price objective on Atlassian from $41.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday, October 20th. Finally, Robert W. Baird raised their price objective on Atlassian from $43.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, October 20th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Atlassian currently has a consensus rating of “Buy” and an average price target of $55.90.

Atlassian (NASDAQ TEAM) traded down $2.53 on Friday, hitting $53.07. The stock had a trading volume of 3,658,378 shares, compared to its average volume of 911,844. The firm has a market cap of $5,426.00, a PE ratio of -104.06 and a beta of 2.64. Atlassian has a 1-year low of $26.96 and a 1-year high of $55.91.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, October 19th. The technology company reported $0.12 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.17. The business had revenue of $193.80 million during the quarter, compared to analysts’ expectations of $185.78 million. Atlassian had a negative return on equity of 3.97% and a negative net margin of 15.85%. The company’s quarterly revenue was up 41.7% compared to the same quarter last year. During the same period last year, the firm earned $0.10 EPS. research analysts predict that Atlassian will post -0.13 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its position in Atlassian by 0.8% during the second quarter. Russell Investments Group Ltd. now owns 5,549 shares of the technology company’s stock worth $196,000 after buying an additional 46 shares in the last quarter. Macquarie Group Ltd. increased its position in Atlassian by 0.8% during the second quarter. Macquarie Group Ltd. now owns 49,354 shares of the technology company’s stock worth $1,736,000 after buying an additional 375 shares in the last quarter. BlueCrest Capital Management Ltd increased its position in Atlassian by 10.0% during the second quarter. BlueCrest Capital Management Ltd now owns 8,133 shares of the technology company’s stock worth $286,000 after buying an additional 741 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in Atlassian by 2.0% during the second quarter. UBS Asset Management Americas Inc. now owns 84,266 shares of the technology company’s stock worth $2,964,000 after buying an additional 1,685 shares in the last quarter. Finally, AHL Partners LLP increased its position in Atlassian by 1.9% during the second quarter. AHL Partners LLP now owns 106,616 shares of the technology company’s stock worth $3,751,000 after buying an additional 1,964 shares in the last quarter. 80.97% of the stock is owned by institutional investors.

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About Atlassian

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.

The Fly

Analyst Recommendations for Atlassian (NASDAQ:TEAM)

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