Shares of Atlassian (NASDAQ:TEAM) have earned an average rating of “Buy” from the sixteen brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $57.56.
Several analysts have commented on TEAM shares. Zacks Investment Research lowered Atlassian from a “hold” rating to a “sell” rating in a report on Wednesday, January 24th. Morgan Stanley set a $63.00 price objective on Atlassian and gave the company a “buy” rating in a report on Friday, January 19th. Oppenheimer raised their target price on Atlassian to $58.00 and gave the company an “outperform” rating in a research report on Thursday, January 4th. BidaskClub upgraded Atlassian from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 18th. Finally, Canaccord Genuity restated a “buy” rating and issued a $60.00 target price (up previously from $52.00) on shares of Atlassian in a research report on Wednesday, January 17th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC purchased a new position in shares of Atlassian in the fourth quarter valued at approximately $116,000. Nelson Roberts Investment Advisors LLC purchased a new position in Atlassian during the fourth quarter worth approximately $123,000. Public Employees Retirement Association of Colorado lifted its position in Atlassian by 50.7% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 3,464 shares of the technology company’s stock worth $158,000 after buying an additional 1,165 shares in the last quarter. Elkfork Partners LLC purchased a new position in Atlassian during the fourth quarter worth approximately $183,000. Finally, SeaCrest Wealth Management LLC purchased a new position in Atlassian during the fourth quarter worth approximately $201,000. Institutional investors and hedge funds own 88.35% of the company’s stock.
Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, January 18th. The technology company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.04). Atlassian had a negative net margin of 15.85% and a negative return on equity of 4.00%. The business had revenue of $212.63 million during the quarter, compared to analyst estimates of $204.40 million. 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, provides team collaboration and productivity software solutions worldwide. It offers project tracking, content creation and sharing, real-time communication, and service management products to large and small organizations. 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; HipChat that provides teams a way to communicate in real-time and share ideas, updates, codes, and files; Trello, a Web-based project management application for capturing and adding structure to fluid and fast-forming work for teams; Bitbucket, a code management and collaboration product for teams using distributed version control systems; and JIRA Service Desk, a service desk product for creating and managing service experiences for various service team providers, including IT help desks, and legal and HR teams.
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