Atlassian (TEAM) Receiving Somewhat Favorable Media Coverage, Analysis Finds
Press coverage about Atlassian (NASDAQ:TEAM) has trended somewhat positive this week, according to Accern. The research firm ranks the sentiment of media coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Atlassian earned a daily sentiment score of 0.22 on Accern’s scale. Accern also assigned news headlines about the technology company an impact score of 46.1697302620554 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
These are some of the news headlines that may have impacted Accern Sentiment Analysis’s scoring:
- Varonis Systems (VRNS) vs. Atlassian (TEAM) Head to Head Review (americanbankingnews.com)
- Reviewing Workiva (WK) & Atlassian (TEAM) (americanbankingnews.com)
- 5 Best Practices for Companies with a Virtual Team (inc.com)
- Atlassian to Slack: If You Can't Beat 'Em, Join 'Em (finance.yahoo.com)
TEAM has been the subject of several analyst reports. BMO Capital Markets raised their price objective on Atlassian from $56.00 to $65.00 and gave the company a “market perform” rating in a research note on Wednesday, April 18th. They noted that the move was a valuation call. Jefferies Financial Group lowered Atlassian from a “buy” rating to a “hold” rating in a research note on Wednesday, April 18th. Cowen reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Atlassian in a research note on Wednesday, April 18th. JMP Securities lowered Atlassian from an “outperform” rating to a “market perform” rating in a research note on Friday, April 20th. Finally, Canaccord Genuity raised their price objective on Atlassian from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, April 20th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $70.00.
Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, July 26th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.01. Atlassian had a negative return on equity of 2.30% and a negative net margin of 13.65%. The firm had revenue of $243.80 million during the quarter, compared to analyst estimates of $233.42 million. During the same period last year, the company earned $0.09 EPS. Atlassian’s quarterly revenue was up 39.9% compared to the same quarter last year. sell-side analysts predict that Atlassian will post 0.07 earnings per share for the current fiscal year.
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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