Atlassian Co. PLC (NASDAQ:TEAM) has been assigned a consensus recommendation of “Buy” from the twenty-two ratings firms that are presently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $191.00.
TEAM has been the topic of a number of recent research reports. Wells Fargo & Company boosted their price objective on Atlassian from $205.00 to $220.00 in a research note on Tuesday, October 13th. Morgan Stanley upped their price objective on shares of Atlassian from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, July 31st. BidaskClub raised shares of Atlassian from a “sell” rating to a “hold” rating in a research note on Thursday, August 27th. DA Davidson increased their price target on shares of Atlassian from $200.00 to $210.00 in a research note on Thursday, September 24th. Finally, Goldman Sachs Group lifted their price target on shares of Atlassian from $194.00 to $219.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. They noted that the move was a valuation call.
Institutional investors and hedge funds have recently bought and sold shares of the stock. BDO Wealth Advisors LLC acquired a new position in Atlassian in the 1st quarter valued at about $28,000. Duncker Streett & Co. Inc. purchased a new position in shares of Atlassian in the second quarter valued at approximately $50,000. Contravisory Investment Management Inc. acquired a new position in shares of Atlassian in the third quarter valued at approximately $50,000. Glenmede Trust Co. NA increased its stake in Atlassian by 49.1% during the 2nd quarter. Glenmede Trust Co. NA now owns 349 shares of the technology company’s stock worth $62,000 after buying an additional 115 shares during the period. Finally, Carroll Financial Associates Inc. lifted its holdings in Atlassian by 22.3% during the 2nd quarter. Carroll Financial Associates Inc. now owns 367 shares of the technology company’s stock worth $66,000 after buying an additional 67 shares in the last quarter. 90.42% of the stock is currently owned by hedge funds and other institutional investors.
Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, July 30th. The technology company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.32. The company had revenue of $430.48 million during the quarter, compared to the consensus estimate of $408.86 million. Atlassian had a negative net margin of 21.72% and a positive return on equity of 2.15%. As a group, analysts expect that Atlassian will post 0.14 earnings per share 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 Web-based project management application for capturing and adding structure to fluid, fast-forming work for teams.
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