Atlassian (NASDAQ:TEAM) Rating Increased to Buy at BidaskClub

BidaskClub upgraded shares of Atlassian (NASDAQ:TEAM) from a hold rating to a buy rating in a research note issued to investors on Tuesday, BidAskClub reports.

Several other research analysts have also issued reports on the stock. KeyCorp lifted their price target on shares of Atlassian from $142.00 to $150.00 and gave the stock an overweight rating in a research report on Friday, July 26th. Deutsche Bank lifted their price target on shares of Atlassian from $114.00 to $135.00 and gave the stock a hold rating in a research report on Thursday, June 13th. ValuEngine lowered shares of Atlassian from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Zacks Investment Research upgraded shares of Atlassian from a strong sell rating to a hold rating in a research report on Wednesday, October 2nd. Finally, TheStreet lowered shares of Atlassian from a c- rating to a d rating in a research report on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $139.75.

Shares of NASDAQ:TEAM opened at $127.48 on Tuesday. Atlassian has a 12 month low of $65.17 and a 12 month high of $149.80. The stock’s 50 day moving average price is $131.48 and its 200 day moving average price is $127.91.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, July 25th. The technology company reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.26. The firm had revenue of $334.59 million for the quarter, compared to analysts’ expectations of $330.60 million. Atlassian had a negative return on equity of 2.45% and a negative net margin of 52.69%. The firm’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.14 earnings per share. As a group, analysts anticipate that Atlassian will post 0.09 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of TEAM. Dimensional Fund Advisors LP grew its position in Atlassian by 7.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 105,649 shares of the technology company’s stock worth $9,400,000 after purchasing an additional 7,342 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of Atlassian by 1.0% during the 1st quarter. Parametric Portfolio Associates LLC now owns 95,870 shares of the technology company’s stock valued at $10,775,000 after buying an additional 916 shares during the period. BlackRock Inc. boosted its stake in shares of Atlassian by 24.8% during the 1st quarter. BlackRock Inc. now owns 3,197,364 shares of the technology company’s stock valued at $359,352,000 after buying an additional 636,089 shares during the period. Advisor Group Inc. boosted its stake in shares of Atlassian by 14.7% during the 1st quarter. Advisor Group Inc. now owns 9,122 shares of the technology company’s stock valued at $1,024,000 after buying an additional 1,167 shares during the period. Finally, Xact Kapitalforvaltning AB acquired a new stake in shares of Atlassian during the 1st quarter valued at $1,023,000. Hedge funds and other institutional investors own 87.20% of the company’s stock.

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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