Atlassian Co. PLC (NASDAQ:TEAM) has been assigned an average recommendation of “Buy” from the sixteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $84.40.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Atlassian from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a research note on Friday, November 9th. BidaskClub lowered Atlassian from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 5th. Cowen raised their target price on Atlassian from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, September 13th. Morgan Stanley cut Atlassian from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $75.00 to $94.00 in a research report on Thursday, October 4th. They noted that the move was a valuation call. Finally, Needham & Company LLC initiated coverage on Atlassian in a research report on Monday, October 22nd. They issued a “hold” rating for the company. They noted that the move was a valuation call.

Shares of TEAM traded up $0.15 during trading hours on Friday, hitting $95.65. 934,800 shares of the company were exchanged, compared to its average volume of 1,773,287. The firm has a market cap of $10.17 billion, a PE ratio of -1,365.43, a P/E/G ratio of 80.65 and a beta of 1.98. The company has a quick ratio of 4.17, a current ratio of 4.17 and a debt-to-equity ratio of 1.16. Atlassian has a one year low of $47.74 and a one year high of $98.21.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, October 18th. The technology company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. The business had revenue of $267.30 million during the quarter, compared to analyst estimates of $259.67 million. Atlassian had a negative return on equity of 0.75% and a negative net margin of 36.71%. The company’s revenue was up 36.7% compared to the same quarter last year. During the same period last year, the company posted $0.12 EPS. On average, equities research analysts anticipate that Atlassian will post 0.09 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. Zacks Investment Management boosted its position in Atlassian by 5.5% during the second quarter. Zacks Investment Management now owns 17,490 shares of the technology company’s stock valued at $1,093,000 after purchasing an additional 918 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Atlassian by 8.9% during the fourth quarter. State of Alaska Department of Revenue now owns 12,248 shares of the technology company’s stock valued at $1,089,000 after purchasing an additional 999 shares during the last quarter. Motley Fool Wealth Management LLC boosted its position in Atlassian by 0.8% during the third quarter. Motley Fool Wealth Management LLC now owns 137,139 shares of the technology company’s stock valued at $13,185,000 after purchasing an additional 1,093 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Atlassian by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 72,086 shares of the technology company’s stock valued at $4,507,000 after purchasing an additional 1,119 shares during the last quarter. Finally, Wedbush Securities Inc. boosted its position in Atlassian by 18.5% during the third quarter. Wedbush Securities Inc. now owns 7,806 shares of the technology company’s stock valued at $750,000 after purchasing an additional 1,216 shares during the last quarter. 88.93% of the stock is 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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