Somewhat Favorable News Coverage Somewhat Unlikely to Affect Atlassian (NASDAQ:TEAM) Share Price

News stories about Atlassian (NASDAQ:TEAM) have trended somewhat positive on Friday, Accern Sentiment reports. Accern identifies negative and positive press coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Atlassian earned a news impact score of 0.22 on Accern’s scale. Accern also assigned news headlines about the technology company an impact score of 46.1101811310189 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.

Here are some of the headlines that may have effected Accern Sentiment’s analysis:

NASDAQ TEAM traded up $0.72 during midday trading on Friday, hitting $90.01. 1,333,700 shares of the company traded hands, compared to its average volume of 1,262,727. The stock has a market capitalization of $8.73 billion, a PE ratio of -1,266.57, a price-to-earnings-growth ratio of 90.19 and a beta of 2.44. Atlassian has a 52 week low of $33.16 and a 52 week high of $91.42.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, July 26th. The technology company reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.01. The firm had revenue of $243.80 million during the quarter, compared to analysts’ expectations of $233.42 million. Atlassian had a negative return on equity of 2.30% and a negative net margin of 13.65%. The business’s quarterly revenue was up 39.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 EPS. analysts forecast that Atlassian will post 0.07 EPS for the current year.

A number of equities analysts recently commented on TEAM shares. Morgan Stanley increased their price target on Atlassian from $63.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, July 26th. DA Davidson upped their price objective on Atlassian to $88.00 and gave the company a “buy” rating in a research report on Friday, July 27th. Cowen reiterated a “buy” rating and issued a $90.00 price target on shares of Atlassian in a report on Friday, July 27th. BidaskClub upgraded Atlassian from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 8th. Finally, Jefferies Financial Group increased their price target on Atlassian to $70.00 and gave the stock a “hold” rating in a report on Friday, July 27th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $70.00.

About Atlassian

Atlassian Corporation Plc, through its subsidiaries, provides team collaboration and productivity software solutions worldwide. It offers project tracking, content creation and sharing, real-time communication, and service management products to large and small organizations. 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; HipChat that provides teams a way to communicate in real-time and share ideas, updates, codes, and files; Trello, a Web-based project management application for capturing and adding structure to fluid and fast-forming work for teams; Bitbucket, a code management and collaboration product for teams using distributed version control systems; and JIRA Service Desk, a service desk product for creating and managing service experiences for various service team providers, including IT help desks, and legal and HR teams.

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