Atlassian Co. Plc (NASDAQ:TEAM) has been assigned a consensus rating of “Buy” from the twenty-one ratings firms that are presently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $235.94.
Several equities analysts have recently weighed in on the company. Cowen raised their price target on Atlassian from $250.00 to $255.00 and gave the company an “outperform” rating in a report on Friday, January 29th. BMO Capital Markets raised their price target on Atlassian from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Friday, January 29th. William Blair restated an “outperform” rating on shares of Atlassian in a report on Tuesday, February 2nd. Canaccord Genuity raised their price target on Atlassian from $225.00 to $260.00 and gave the company a “buy” rating in a report on Friday, January 29th. Finally, Macquarie assumed coverage on Atlassian in a report on Wednesday, January 6th. They set an “outperform” rating for the company.
Several institutional investors have recently added to or reduced their stakes in TEAM. Clearbridge Investments LLC grew its stake in shares of Atlassian by 231.9% during the 4th quarter. Clearbridge Investments LLC now owns 1,778,843 shares of the technology company’s stock valued at $416,018,000 after purchasing an additional 1,242,947 shares during the period. Norges Bank bought a new stake in shares of Atlassian during the 4th quarter valued at about $237,650,000. D1 Capital Partners L.P. bought a new stake in shares of Atlassian during the 4th quarter valued at about $123,951,000. BlackRock Inc. grew its stake in shares of Atlassian by 11.6% during the 4th quarter. BlackRock Inc. now owns 3,703,102 shares of the technology company’s stock valued at $866,045,000 after purchasing an additional 384,661 shares during the period. Finally, Janus Henderson Group PLC grew its stake in shares of Atlassian by 10.7% during the 4th quarter. Janus Henderson Group PLC now owns 3,986,682 shares of the technology company’s stock valued at $932,361,000 after purchasing an additional 384,618 shares during the period. Institutional investors and hedge funds own 91.46% of the company’s stock.
Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Wednesday, January 27th. The technology company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05. The business had revenue of $501.40 million during the quarter, compared to analyst estimates of $473.87 million. Atlassian had a positive return on equity of 2.57% and a negative net margin of 25.82%. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 earnings per share. As a group, equities analysts expect that Atlassian will post 0.06 EPS for the current year.
Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. It provides project tracking, content creation and sharing, and service management products. The company's products include JIRA, a workflow management system that enables teams to plan, organize, track, and manage their work and projects; Confluence, a content collaboration platform that is used to create, share, organize, and discuss projects; and Trello, a collaboration and organization product, which captures and adds structure to fluid fast-forming work for teams.
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