Atlassian Co. Plc (NASDAQ:TEAM – Get Rating) has been given an average rating of “Buy” by the twenty-two research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $406.84.
A number of research analysts recently weighed in on TEAM shares. Truist Financial decreased their target price on Atlassian from $400.00 to $375.00 and set a “hold” rating on the stock in a report on Thursday, March 24th. Citigroup initiated coverage on Atlassian in a research note on Tuesday, January 25th. They issued a “buy” rating and a $430.00 price target for the company. BMO Capital Markets reduced their price target on Atlassian from $515.00 to $382.00 in a research note on Friday, January 28th. Wells Fargo & Company reduced their price target on Atlassian from $500.00 to $425.00 and set an “overweight” rating for the company in a research note on Tuesday, March 15th. Finally, Cowen boosted their price target on Atlassian from $325.00 to $330.00 and gave the company a “market perform” rating in a research note on Friday, January 28th.
Several hedge funds have recently made changes to their positions in the stock. Peregrine Asset Advisers Inc. lifted its position in shares of Atlassian by 2.5% during the 3rd quarter. Peregrine Asset Advisers Inc. now owns 1,025 shares of the technology company’s stock worth $401,000 after buying an additional 25 shares during the last quarter. CNB Bank lifted its position in shares of Atlassian by 5.7% during the 3rd quarter. CNB Bank now owns 539 shares of the technology company’s stock worth $212,000 after buying an additional 29 shares during the last quarter. Pitcairn Co. increased its holdings in Atlassian by 0.9% in the 3rd quarter. Pitcairn Co. now owns 3,422 shares of the technology company’s stock worth $1,340,000 after purchasing an additional 29 shares in the last quarter. ING Groep NV increased its holdings in Atlassian by 1.3% in the 3rd quarter. ING Groep NV now owns 2,417 shares of the technology company’s stock worth $946,000 after purchasing an additional 31 shares in the last quarter. Finally, Summit Trail Advisors LLC increased its holdings in Atlassian by 1.5% in the 3rd quarter. Summit Trail Advisors LLC now owns 2,203 shares of the technology company’s stock worth $862,000 after purchasing an additional 33 shares in the last quarter. Institutional investors and hedge funds own 86.08% of the company’s stock.
Atlassian (NASDAQ:TEAM – Get Rating) last posted its earnings results on Thursday, January 27th. The technology company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.26). The business had revenue of $688.00 million for the quarter, compared to analyst estimates of $642.47 million. Atlassian had a negative return on equity of 23.70% and a negative net margin of 21.84%. The firm’s revenue was up 37.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 earnings per share. As a group, sell-side analysts predict that Atlassian will post -0.5 EPS for the current fiscal year.
About Atlassian (Get Rating)
Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include JIRA, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise agile planning; Opsgenie, an incident management tool that centralizes alerts and notifies right people at right time; and Statuspage for incident communication.
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