Atlassian (NASDAQ:TEAM) had its target price upped by equities research analysts at DA Davidson to $118.00 in a research note issued on Friday, January 18th, The Fly reports. The brokerage currently has a “buy” rating on the technology company’s stock. DA Davidson’s price target suggests a potential upside of 13.09% from the company’s current price.
Several other equities research analysts have also recently issued reports on the stock. Morgan Stanley cut shares of Atlassian from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $75.00 to $94.00 in a research report on Thursday, October 4th. They noted that the move was a valuation call. BidaskClub cut shares of Atlassian from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 5th. Needham & Company LLC assumed coverage on shares of Atlassian in a research report on Monday, October 22nd. They set a “hold” rating on the stock. They noted that the move was a valuation call. Zacks Investment Research cut shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Wednesday, November 7th. Finally, BTIG Research upgraded shares of Atlassian from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 13th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $103.45.
Shares of NASDAQ:TEAM opened at $104.34 on Friday. Atlassian has a twelve month low of $47.74 and a twelve month high of $104.95. The company has a market capitalization of $10.87 billion, a PE ratio of -1,490.57, a price-to-earnings-growth ratio of 91.90 and a beta of 1.85. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 1.02.
Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, January 17th. The technology company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.15). Atlassian had a positive return on equity of 3.01% and a negative net margin of 22.96%. The firm had revenue of $299.00 million for the quarter, compared to the consensus estimate of $288.28 million. During the same quarter in the previous year, the business posted $0.13 EPS. Atlassian’s revenue was up 40.6% on a year-over-year basis. As a group, analysts expect that Atlassian will post 0.08 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of the business. Capital Research Global Investors bought a new stake in shares of Atlassian in the 3rd quarter valued at about $638,894,000. FMR LLC raised its holdings in shares of Atlassian by 14.1% in the 2nd quarter. FMR LLC now owns 9,000,442 shares of the technology company’s stock valued at $562,708,000 after purchasing an additional 1,112,999 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Atlassian by 48.6% in the 3rd quarter. Renaissance Technologies LLC now owns 2,189,700 shares of the technology company’s stock valued at $210,518,000 after purchasing an additional 716,300 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Atlassian by 319.9% in the 3rd quarter. Acadian Asset Management LLC now owns 915,533 shares of the technology company’s stock valued at $88,018,000 after purchasing an additional 697,504 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Atlassian by 39.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,655,435 shares of the technology company’s stock valued at $103,497,000 after purchasing an additional 471,860 shares during the period. 88.82% of the stock is currently owned by hedge funds and other institutional investors.
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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