Atlassian (NASDAQ:TEAM) had its price objective increased by Oppenheimer to $58.00 in a research report sent to investors on Thursday morning. Oppenheimer currently has an outperform rating on the technology company’s stock.
Several other equities research analysts also recently commented on TEAM. Robert W. Baird set a $43.00 target price on Atlassian and gave the company a buy rating in a report on Friday, October 6th. Canaccord Genuity reaffirmed a buy rating and set a $44.00 target price on shares of Atlassian in a report on Friday, September 15th. Summit Redstone reaffirmed a buy rating on shares of Atlassian in a report on Thursday, October 19th. Cowen reaffirmed an outperform rating and set a $55.00 target price (up from $47.00) on shares of Atlassian in a report on Friday, October 20th. Finally, Zacks Investment Research downgraded Atlassian from a buy rating to a hold rating in a report on Saturday, November 11th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has an average rating of Buy and an average price target of $50.00.
Shares of Atlassian (NASDAQ TEAM) traded up $1.20 during mid-day trading on Thursday, reaching $51.60. The company had a trading volume of 2,042,800 shares, compared to its average volume of 1,667,533. Atlassian has a fifty-two week low of $24.63 and a fifty-two week high of $53.45. The company has a market capitalization of $11,970.00 and a PE ratio of -215.00.
Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, October 19th. The technology company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.17. Atlassian had a negative return on equity of 2.11% and a negative net margin of 7.96%. The business had revenue of $193.80 million during the quarter, compared to analysts’ expectations of $185.78 million. During the same quarter last year, the business posted $0.10 earnings per share. The company’s quarterly revenue was up 41.7% on a year-over-year basis. research analysts expect that Atlassian will post -0.13 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. Voya Investment Management LLC lifted its stake in Atlassian by 166.3% in the 2nd quarter. Voya Investment Management LLC now owns 28,189 shares of the technology company’s stock worth $992,000 after acquiring an additional 17,604 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Atlassian by 36.2% in the 3rd quarter. Wells Fargo & Company MN now owns 497,185 shares of the technology company’s stock worth $17,476,000 after acquiring an additional 132,081 shares in the last quarter. Royce & Associates LP purchased a new stake in Atlassian in the 2nd quarter worth about $2,885,000. Sei Investments Co. lifted its stake in Atlassian by 12.2% in the 3rd quarter. Sei Investments Co. now owns 294,226 shares of the technology company’s stock worth $10,342,000 after acquiring an additional 31,935 shares in the last quarter. Finally, Artisan Partners Limited Partnership lifted its stake in Atlassian by 28.4% in the 3rd quarter. Artisan Partners Limited Partnership now owns 7,543,086 shares of the technology company’s stock worth $265,139,000 after acquiring an additional 1,668,292 shares in the last quarter. 80.99% of the stock is owned by hedge funds and other institutional investors.
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Atlassian Company Profile
Atlassian Corporation Plc is a holding company. The Company offers a range of team collaboration products. The Company offers products, including JIRA, Confluence, HipChat, Bitbucket and JIRA Service Desk, for software developers, information technology (IT) managers and knowledge workers. The Company offers JIRA for team planning and project management; Confluence for team content creation and sharing; HipChat for team real-time messaging and communications; Bitbucket for team code sharing and management, and JIRA Service Desk for team service and support applications.
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