Atlassian (NASDAQ:TEAM) PT Raised to $120.00 at Robert W. Baird

Atlassian (NASDAQ:TEAM) had its price objective boosted by Robert W. Baird from $110.00 to $120.00 in a report published on Thursday, April 11th, Stock Target Advisor reports. The brokerage currently has an outperform rating on the technology company’s stock.

Several other equities analysts also recently weighed in on the stock. Canaccord Genuity increased their price target on shares of Atlassian from $105.00 to $125.00 and gave the stock a buy rating in a report on Friday, April 12th. They noted that the move was a valuation call. Jefferies Financial Group raised their price objective on shares of Atlassian from $90.00 to $105.00 and gave the stock a hold rating in a research note on Friday, April 12th. Mizuho raised their price objective on shares of Atlassian from $120.00 to $125.00 and gave the stock a buy rating in a research note on Thursday, April 11th. Zacks Investment Research raised shares of Atlassian from a hold rating to a buy rating and set a $129.00 price objective on the stock in a research note on Thursday, April 4th. Finally, KeyCorp raised their price objective on shares of Atlassian from $110.00 to $121.00 and gave the stock an overweight rating in a research note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $114.71.

Shares of TEAM stock traded up $1.40 during mid-day trading on Thursday, hitting $110.41. 854,334 shares of the stock traded hands, compared to its average volume of 1,743,958. The firm has a market cap of $11.73 billion, a price-to-earnings ratio of -1,577.29, a PEG ratio of 174.38 and a beta of 1.77. The company has a debt-to-equity ratio of 1.22, a quick ratio of 3.34 and a current ratio of 3.34. Atlassian has a 52-week low of $57.60 and a 52-week high of $117.06.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Wednesday, April 17th. The technology company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.26). Atlassian had a negative net margin of 38.06% and a positive return on equity of 1.34%. The company had revenue of $309.30 million during the quarter, compared to analysts’ expectations of $304.68 million. During the same period in the previous year, the business earned $0.10 earnings per share. The business’s revenue for the quarter was up 37.9% compared to the same quarter last year. As a group, equities analysts predict that Atlassian will post 0.03 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in TEAM. SG Americas Securities LLC lifted its holdings in Atlassian by 72.7% in the 3rd quarter. SG Americas Securities LLC now owns 5,019 shares of the technology company’s stock valued at $483,000 after purchasing an additional 2,112 shares in the last quarter. Prudential Financial Inc. purchased a new position in Atlassian in the 3rd quarter valued at $221,000. Alliancebernstein L.P. lifted its holdings in Atlassian by 11.5% in the 3rd quarter. Alliancebernstein L.P. now owns 50,012 shares of the technology company’s stock valued at $4,808,000 after purchasing an additional 5,150 shares in the last quarter. BlackRock Inc. lifted its holdings in Atlassian by 7.7% in the 3rd quarter. BlackRock Inc. now owns 2,287,368 shares of the technology company’s stock valued at $219,906,000 after purchasing an additional 163,344 shares in the last quarter. Finally, Credit Suisse AG lifted its holdings in Atlassian by 87.6% in the 3rd quarter. Credit Suisse AG now owns 30,035 shares of the technology company’s stock valued at $2,887,000 after purchasing an additional 14,028 shares in the last quarter. Institutional investors own 91.23% of the company’s stock.

About Atlassian

Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. It provides project tracking, content creation and sharing, and service management products. 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; and Trello, a Web-based project management application for capturing and adding structure to fluid, fast-forming work for teams.

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