Atlassian (NASDAQ:TEAM) Price Target Lowered to $278.00 at KeyCorp

Atlassian (NASDAQ:TEAMGet Rating) had its price target cut by KeyCorp from $338.00 to $278.00 in a research note released on Friday, Stock Target Advisor reports. They currently have an overweight rating on the technology company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Canaccord Genuity Group lowered their target price on shares of Atlassian from $375.00 to $300.00 in a research note on Friday, April 29th. Wells Fargo & Company lowered their target price on shares of Atlassian from $400.00 to $300.00 and set an overweight rating on the stock in a research note on Wednesday, May 18th. Mizuho lowered their target price on shares of Atlassian from $500.00 to $360.00 in a research note on Monday, May 16th. The Goldman Sachs Group raised shares of Atlassian from a neutral rating to a buy rating and lifted their target price for the stock from $279.00 to $300.00 in a research note on Monday, June 27th. Finally, Truist Financial lowered their target price on shares of Atlassian from $375.00 to $220.00 in a research note on Tuesday, May 10th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $339.26.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $202.27 on Friday. The firm has a market cap of $27.77 billion, a PE ratio of -70.48 and a beta of 1.01. The firm has a fifty day moving average of $188.74 and a 200 day moving average of $247.78. The company has a debt-to-equity ratio of 3.30, a quick ratio of 1.19 and a current ratio of 1.19. Atlassian has a one year low of $159.54 and a one year high of $483.13.

Atlassian (NASDAQ:TEAMGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The technology company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.10. The company had revenue of $740.49 million during the quarter, compared to analyst estimates of $703.87 million. Atlassian had a negative net margin of 27.73% and a negative return on equity of 56.13%. The firm’s revenue was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 EPS. As a group, research analysts predict that Atlassian will post -0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Counterpoint Mutual Funds LLC acquired a new position in Atlassian in the fourth quarter valued at about $28,000. Nvwm LLC increased its stake in Atlassian by 142.9% during the fourth quarter. Nvwm LLC now owns 85 shares of the technology company’s stock worth $32,000 after purchasing an additional 50 shares during the period. Bank of New Hampshire purchased a new stake in Atlassian during the first quarter worth about $26,000. Core Alternative Capital increased its stake in Atlassian by 1,383.3% during the first quarter. Core Alternative Capital now owns 89 shares of the technology company’s stock worth $26,000 after purchasing an additional 83 shares during the period. Finally, CWM LLC purchased a new stake in Atlassian during the fourth quarter worth about $35,000. Institutional investors and hedge funds own 91.33% of the company’s stock.

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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