Analysts Set Atlassian Corp. PLC (NASDAQ:TEAM) Target Price at $34.83
Atlassian Corp. PLC (NASDAQ:TEAM) has been given a consensus recommendation of “Buy” by the thirteen research firms that are presently covering the stock. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $34.83.
Several equities analysts recently commented on TEAM shares. JMP Securities reiterated a “buy” rating on shares of Atlassian Corp. PLC in a research note on Friday, September 2nd. Cowen and Company started coverage on Atlassian Corp. PLC in a research note on Wednesday. They issued an “outperform” rating and a $36.00 price objective on the stock. BTIG Research downgraded Atlassian Corp. PLC from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 10th. Summit Redstone reiterated a “buy” rating and issued a $35.00 price objective on shares of Atlassian Corp. PLC in a research note on Tuesday, August 16th. Finally, Jefferies Group upped their price objective on Atlassian Corp. PLC from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, August 5th.
Large investors have recently modified their holdings of the company. Baillie Gifford & Co. acquired a new stake in shares of Atlassian Corp. PLC during the second quarter worth about $142,834,000. JPMorgan Chase & Co. increased its stake in shares of Atlassian Corp. PLC by 14.5% in the second quarter. JPMorgan Chase & Co. now owns 2,728,661 shares of the company’s stock worth $70,672,000 after buying an additional 345,845 shares during the period. Alliancebernstein L.P. increased its stake in shares of Atlassian Corp. PLC by 7.4% in the second quarter. Alliancebernstein L.P. now owns 2,652,827 shares of the company’s stock worth $68,708,000 after buying an additional 182,273 shares during the period. Janus Capital Management LLC increased its stake in shares of Atlassian Corp. PLC by 38.2% in the second quarter. Janus Capital Management LLC now owns 2,318,309 shares of the company’s stock worth $60,044,000 after buying an additional 640,715 shares during the period. Finally, Artisan Partners Limited Partnership increased its stake in shares of Atlassian Corp. PLC by 5.5% in the second quarter. Artisan Partners Limited Partnership now owns 2,283,543 shares of the company’s stock worth $59,144,000 after buying an additional 119,304 shares during the period. Institutional investors own 65.07% of the company’s stock.
Atlassian Corp. PLC (NASDAQ:TEAM) opened at 28.27 on Thursday. The company has a market cap of $6.12 billion and a price-to-earnings ratio of 1346.19. Atlassian Corp. PLC has a 52 week low of $16.92 and a 52 week high of $35.16. The stock has a 50 day moving average price of $29.76 and a 200 day moving average price of $26.45.
Atlassian Corp. PLC (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. Atlassian Corp. PLC had a return on equity of 1.52% and a net margin of 0.96%. The business had revenue of $127.60 million for the quarter, compared to the consensus estimate of $124.26 million. The company’s revenue was up 39.0% on a year-over-year basis. On average, equities analysts forecast that Atlassian Corp. PLC will post $0.33 earnings per share for the current year.
About Atlassian Corp. PLC
Atlassian Corporation Plc is engaged in designing, developing, licensing and maintaining of software, and the provisioning of software hosting services. The Company’s products include JIRA for team planning and project management; Confluence for team content creation and sharing; HipChat for team messaging and communications; Bitbucket for team code sharing and management, and JIRA Service Desk for team services and support applications.
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