Atlassian (NASDAQ:TEAM) had its target price lifted by Canaccord Genuity from $105.00 to $125.00 in a research report report published on Friday morning, The Fly reports. Canaccord Genuity currently has a buy rating on the technology company’s stock. The analysts noted that the move was a valuation call.

A number of other research firms have also commented on TEAM. Jefferies Financial Group raised their price objective on shares of Atlassian from $90.00 to $105.00 and gave the company a hold rating in a research report on Friday. KeyCorp raised their price objective on shares of Atlassian from $110.00 to $121.00 and gave the company an overweight rating in a research report on Tuesday, April 2nd. Zacks Investment Research upgraded shares of Atlassian from a hold rating to a buy rating and set a $129.00 price objective for the company in a research report on Thursday, April 4th. Mizuho raised their price objective on shares of Atlassian from $120.00 to $125.00 and gave the company a buy rating in a research report on Thursday, April 11th. Finally, DA Davidson raised their price objective on shares of Atlassian to $126.00 and gave the company a buy rating in a research report on Wednesday, March 13th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Atlassian currently has a consensus rating of Buy and a consensus price target of $114.00.

Shares of NASDAQ:TEAM opened at $114.45 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 3.44 and a quick ratio of 3.44. The stock has a market cap of $11.97 billion, a price-to-earnings ratio of -1,635.00, a price-to-earnings-growth ratio of 102.75 and a beta of 1.85. Atlassian has a twelve month low of $54.54 and a twelve month high of $117.06.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, January 17th. The technology company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.15). Atlassian had a negative net margin of 22.96% and a positive return on equity of 3.01%. The firm had revenue of $299.00 million during the quarter, compared to the consensus estimate of $288.28 million. During the same quarter last year, the business posted $0.13 earnings per share. Atlassian’s revenue was up 40.6% compared to the same quarter last year. Analysts predict that Atlassian will post 0.08 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in TEAM. SG Americas Securities LLC raised its stake in Atlassian by 72.7% in the third 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 stake in Atlassian in the third quarter valued at approximately $221,000. Alliancebernstein L.P. raised its stake in Atlassian by 11.5% in the third 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. raised its stake in Atlassian by 7.7% in the third 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 raised its stake in Atlassian by 87.6% in the third 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. 91.22% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Company Profile

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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Analyst Recommendations for Atlassian (NASDAQ:TEAM)

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