Atlassian Co. PLC (NASDAQ:TEAM) has received an average rating of “Buy” from the twenty-one analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $141.15.

Several research analysts have recently commented on TEAM shares. SunTrust Banks started coverage on shares of Atlassian in a report on Wednesday, October 2nd. They issued a “buy” rating and a $162.00 price target for the company. Cowen reaffirmed a “buy” rating on shares of Atlassian in a report on Friday, October 18th. ValuEngine lowered shares of Atlassian from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. William Blair reaffirmed a “buy” rating on shares of Atlassian in a report on Friday, September 13th. Finally, BMO Capital Markets set a $150.00 price target on shares of Atlassian and gave the company a “hold” rating in a report on Friday, October 18th.

Shares of TEAM traded down $6.27 during midday trading on Monday, hitting $120.84. The company had a trading volume of 2,313,293 shares, compared to its average volume of 1,641,964. The company’s 50 day moving average price is $121.25 and its 200 day moving average price is $130.33. The stock has a market cap of $14.73 billion, a price-to-earnings ratio of -710.82, a PEG ratio of 123.98 and a beta of 1.28. Atlassian has a 52 week low of $75.55 and a 52 week high of $149.80.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, October 17th. The technology company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.04. The company had revenue of $363.40 million during the quarter, compared to the consensus estimate of $351.79 million. Atlassian had a negative net margin of 24.95% and a negative return on equity of 2.76%. The company’s revenue was up 36.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.20 EPS. On average, research analysts predict that Atlassian will post 0.05 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of TEAM. Pendal Group Ltd acquired a new position in Atlassian during the 2nd quarter valued at about $347,020,000. Price T Rowe Associates Inc. MD boosted its stake in Atlassian by 22.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 11,208,294 shares of the technology company’s stock valued at $1,466,493,000 after purchasing an additional 2,059,713 shares during the period. Morgan Stanley boosted its stake in Atlassian by 168.3% during the 2nd quarter. Morgan Stanley now owns 2,139,661 shares of the technology company’s stock valued at $279,953,000 after purchasing an additional 1,342,168 shares during the period. JPMorgan Chase & Co. boosted its stake in Atlassian by 54.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,144,350 shares of the technology company’s stock valued at $412,036,000 after purchasing an additional 1,113,490 shares during the period. Finally, Invesco Ltd. boosted its stake in Atlassian by 435.8% during the 2nd quarter. Invesco Ltd. now owns 1,242,890 shares of the technology company’s stock valued at $162,620,000 after purchasing an additional 1,010,904 shares during the period. 87.09% of the stock is owned by hedge funds and other institutional investors.

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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