Atlassian (NASDAQ:TEAM) Price Target Increased to $142.00 by Analysts at KeyCorp

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Atlassian (NASDAQ:TEAM) had its target price lifted by equities research analysts at KeyCorp from $121.00 to $142.00 in a report released on Thursday, BenzingaRatingsTable reports. The brokerage currently has an “overweight” rating on the technology company’s stock. KeyCorp’s price objective would indicate a potential upside of 10.10% from the stock’s current price.

TEAM has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Atlassian from a “strong sell” rating to a “hold” rating in a report on Friday, May 31st. Jefferies Financial Group boosted their price target on shares of Atlassian from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $115.00 to $125.00 in a report on Thursday, May 9th. DA Davidson boosted their price target on shares of Atlassian to $126.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Finally, Canaccord Genuity boosted their price target on shares of Atlassian from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, April 12th. They noted that the move was a valuation call. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $121.67.

Shares of TEAM stock opened at $128.97 on Thursday. The company has a quick ratio of 3.34, a current ratio of 3.34 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $13.69 billion, a P/E ratio of -1,842.43, a price-to-earnings-growth ratio of 204.11 and a beta of 1.40. Atlassian has a fifty-two week low of $60.39 and a fifty-two week high of $137.78.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Wednesday, April 17th. The technology company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.26). The business had revenue of $309.30 million during the quarter, compared to analyst estimates of $304.68 million. Atlassian had a negative net margin of 38.06% and a positive return on equity of 1.34%. The company’s revenue for the quarter was up 37.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 EPS. As a group, research analysts predict that Atlassian will post 0.03 EPS for the current year.

Large investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of Atlassian by 8.1% during the 4th quarter. Geode Capital Management LLC now owns 300,255 shares of the technology company’s stock worth $26,716,000 after buying an additional 22,604 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Atlassian by 136.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 16,025 shares of the technology company’s stock worth $1,426,000 after buying an additional 9,245 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Atlassian by 1,299.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 19,592 shares of the technology company’s stock worth $1,744,000 after buying an additional 18,192 shares during the last quarter. BlackRock Inc. lifted its position in shares of Atlassian by 12.0% during the 4th quarter. BlackRock Inc. now owns 2,561,275 shares of the technology company’s stock worth $227,903,000 after buying an additional 273,907 shares during the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of Atlassian by 8.7% during the 4th quarter. Prudential Financial Inc. now owns 2,500 shares of the technology company’s stock worth $222,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 92.43% of the company’s stock.

About Atlassian

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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Analyst Recommendations for Atlassian (NASDAQ:TEAM)

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