BidaskClub upgraded shares of Atlassian (NASDAQ:TEAM) from a hold rating to a buy rating in a report published on Wednesday morning, BidAskClub reports.

A number of other research analysts have also recently weighed in on TEAM. Needham & Company LLC restated a hold rating on shares of Atlassian in a research report on Sunday, October 20th. William Blair restated a buy rating on shares of Atlassian in a research report on Friday, September 13th. SunTrust Banks initiated coverage on Atlassian in a research report on Wednesday, October 2nd. They issued a buy rating and a $162.00 price target for the company. BMO Capital Markets set a $150.00 price objective on Atlassian and gave the stock a hold rating in a research report on Friday, October 18th. Finally, Bank of America upgraded Atlassian from a neutral rating to a buy rating in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $141.44.

Shares of TEAM stock traded down $1.52 during mid-day trading on Wednesday, reaching $125.97. The stock had a trading volume of 1,432,700 shares, compared to its average volume of 1,654,051. Atlassian has a 12-month low of $70.00 and a 12-month high of $149.80. The company has a market cap of $14.96 billion, a P/E ratio of -741.00, a price-to-earnings-growth ratio of 122.03 and a beta of 1.29. The business has a 50-day simple moving average of $121.60 and a 200 day simple moving average of $129.85.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 17th. The technology company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. Atlassian had a negative return on equity of 2.76% and a negative net margin of 24.95%. The business had revenue of $363.40 million during the quarter, compared to analysts’ expectations of $351.79 million. During the same quarter last year, the business posted $0.20 earnings per share. The business’s revenue for the quarter was up 36.0% on a year-over-year basis. On average, equities analysts forecast that Atlassian will post 0.05 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Creative Financial Designs Inc. ADV purchased a new stake in Atlassian during the 2nd quarter worth about $26,000. Captrust Financial Advisors grew its holdings in Atlassian by 233.3% in the 2nd quarter. Captrust Financial Advisors now owns 300 shares of the technology company’s stock valued at $39,000 after buying an additional 210 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Atlassian in the 2nd quarter valued at about $41,000. CWM LLC purchased a new stake in Atlassian in the 2nd quarter valued at about $43,000. Finally, Tower Research Capital LLC TRC grew its holdings in Atlassian by 1,870.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 394 shares of the technology company’s stock valued at $52,000 after buying an additional 374 shares during the period. Hedge funds and other institutional investors own 84.11% 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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Analyst Recommendations for Atlassian (NASDAQ:TEAM)

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