Atlassian Co. Plc (NASDAQ:TEAM) Receives Consensus Recommendation of “Buy” from Analysts

Atlassian Co. Plc (NASDAQ:TEAMGet Rating) has been assigned an average rating of “Buy” from the twenty-one brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $375.83.

TEAM has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on shares of Atlassian in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Jefferies Financial Group decreased their target price on shares of Atlassian from $275.00 to $180.00 in a research report on Monday, May 23rd. Truist Financial decreased their target price on shares of Atlassian from $375.00 to $220.00 in a research report on Tuesday, May 10th. Piper Sandler decreased their target price on shares of Atlassian from $414.00 to $384.00 and set an “overweight” rating on the stock in a research report on Friday, April 8th. Finally, Mizuho reduced their price target on shares of Atlassian from $500.00 to $360.00 in a research report on Monday, May 16th.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Exane Derivatives lifted its position in Atlassian by 34,700.0% in the fourth quarter. Exane Derivatives now owns 696 shares of the technology company’s stock valued at $265,000 after acquiring an additional 694 shares during the last quarter. United Capital Financial Advisers LLC raised its holdings in shares of Atlassian by 4.0% in the third quarter. United Capital Financial Advisers LLC now owns 16,626 shares of the technology company’s stock valued at $6,508,000 after buying an additional 632 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Atlassian in the fourth quarter valued at about $12,239,000. Pendal Group Ltd raised its holdings in shares of Atlassian by 2.6% in the fourth quarter. Pendal Group Ltd now owns 343,850 shares of the technology company’s stock valued at $131,107,000 after buying an additional 8,662 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Atlassian in the fourth quarter valued at about $782,000. 91.33% of the stock is owned by hedge funds and other institutional investors.

Atlassian stock opened at $190.27 on Tuesday. The company has a fifty day simple moving average of $228.27 and a 200-day simple moving average of $290.22. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 3.30. The firm has a market capitalization of $26.13 billion, a price-to-earnings ratio of -66.30 and a beta of 1.09. Atlassian has a 52-week low of $159.54 and a 52-week high of $483.13.

Atlassian (NASDAQ:TEAMGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The technology company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.15. The firm had revenue of $740.49 million for the quarter, compared to analysts’ expectations of $703.87 million. Atlassian had a negative net margin of 27.73% and a negative return on equity of 56.13%. The company’s revenue was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS. On average, research analysts anticipate that Atlassian will post -0.36 EPS for the current fiscal year.

Atlassian Company Profile (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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Analyst Recommendations for Atlassian (NASDAQ:TEAM)

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