Brokerages Set Atlassian (TEAM) Price Target at $57.56

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.

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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.

TEAM traded down $1.38 during trading on Wednesday, hitting $54.59. The company’s stock had a trading volume of 882,825 shares, compared to its average volume of 918,420. Atlassian has a twelve month low of $30.83 and a twelve month high of $62.25. The firm has a market cap of $5,574.56, a P/E ratio of -1,819.67 and a beta of 2.29.

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.

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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.

Analyst Recommendations for Atlassian (NASDAQ:TEAM)

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