Atlassian (TEAM) Price Target Raised to $110.00
Atlassian (NASDAQ:TEAM) had its price objective increased by BMO Capital Markets from $100.00 to $110.00 in a report issued on Thursday, Briefing.com Automated Import reports. The brokerage currently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ price objective would suggest a potential downside of 1.07% from the stock’s current price. The analysts noted that the move was a valuation call.
Other equities research analysts have also issued research reports about the stock. Canaccord Genuity raised their price target on shares of Atlassian from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, April 12th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Wednesday. Deutsche Bank began coverage on shares of Atlassian in a research note on Wednesday, February 27th. They issued a “hold” rating and a $114.00 price target on the stock. Oppenheimer raised their price target on shares of Atlassian from $95.00 to $110.00 in a research note on Friday, January 18th. Finally, KeyCorp raised their price target on shares of Atlassian from $110.00 to $121.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Atlassian has a consensus rating of “Buy” and a consensus price target of $114.71.
TEAM opened at $111.19 on Thursday. The stock has a market cap of $12.02 billion, a P/E ratio of -1,588.43, a price-to-earnings-growth ratio of 109.39 and a beta of 1.85. Atlassian has a fifty-two week low of $54.54 and a fifty-two week high of $117.06. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 1.02.
Institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC bought a new stake in Atlassian during the fourth quarter worth approximately $25,000. Cornerstone Advisors Inc. bought a new stake in Atlassian during the fourth quarter worth approximately $29,000. Meeder Asset Management Inc. bought a new stake in Atlassian during the fourth quarter worth approximately $50,000. Financial Architects Inc boosted its holdings in Atlassian by 159.1% during the fourth quarter. Financial Architects Inc now owns 570 shares of the technology company’s stock worth $51,000 after buying an additional 350 shares in the last quarter. Finally, WealthTrust Arizona LLC boosted its holdings in Atlassian by 23.4% during the fourth quarter. WealthTrust Arizona LLC now owns 580 shares of the technology company’s stock worth $52,000 after buying an additional 110 shares in the last quarter. Institutional investors and hedge funds own 91.21% of the company’s stock.
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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