Shares of Atlassian Co. PLC (NASDAQ:TEAM) have been assigned an average rating of “Buy” from the nineteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $115.54.
A number of equities analysts have recently weighed in on the stock. Canaccord Genuity lifted their price target on shares of Atlassian from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. They noted that the move was a valuation call. Deutsche Bank assumed coverage on shares of Atlassian in a research report on Wednesday, February 27th. They set a “hold” rating and a $114.00 price target on the stock. Oppenheimer lifted their price target on shares of Atlassian from $95.00 to $110.00 in a research report on Friday, January 18th. KeyCorp boosted their price objective on shares of Atlassian from $110.00 to $121.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, DA Davidson boosted their price objective on shares of Atlassian to $118.00 and gave the company a “buy” rating in a research report on Friday, January 18th.
A number of hedge funds have recently modified their holdings of TEAM. Norges Bank acquired a new stake in Atlassian in the 4th quarter valued at $79,863,000. Hsbc Holdings PLC increased its stake in Atlassian by 441.0% in the 4th quarter. Hsbc Holdings PLC now owns 797,630 shares of the technology company’s stock valued at $70,973,000 after buying an additional 650,185 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in Atlassian by 98.4% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,157,170 shares of the technology company’s stock valued at $102,965,000 after buying an additional 573,892 shares during the last quarter. CI Investments Inc. acquired a new stake in Atlassian in the 4th quarter valued at $41,235,000. Finally, 1832 Asset Management L.P. increased its stake in Atlassian by 33.3% in the 4th quarter. 1832 Asset Management L.P. now owns 1,202,100 shares of the technology company’s stock valued at $105,130,000 after buying an additional 300,044 shares during the last quarter. Hedge funds and other institutional investors own 91.21% of the company’s stock.
Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, January 17th. The technology company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.15). The firm had revenue of $299.00 million for the quarter, compared to the consensus estimate of $288.28 million. Atlassian had a positive return on equity of 3.01% and a negative net margin of 22.96%. The company’s revenue for the quarter was up 40.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 earnings per share. As a group, equities analysts anticipate that Atlassian will post 0.08 earnings per share for the current fiscal year.
Atlassian Company Profile
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 Web-based project management application for capturing and adding structure to fluid, fast-forming work for teams.
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