Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Atlassian from a strong sell rating to a hold rating in a research note on Tuesday, December 24th. BMO Capital Markets set a $150.00 price objective on Atlassian and gave the stock a hold rating in a research note on Friday, October 18th. ValuEngine cut Atlassian from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Cleveland Research assumed coverage on Atlassian in a research note on Friday, December 20th. They set a buy rating and a $132.00 price objective on the stock. Finally, SunTrust Banks assumed coverage on Atlassian in a research note on Wednesday, October 2nd. They set a buy rating and a $162.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of Buy and an average target price of $142.65.
NASDAQ TEAM opened at $134.22 on Friday. The stock has a market capitalization of $16.33 billion, a price-to-earnings ratio of -789.53, a PEG ratio of 130.61 and a beta of 1.24. The stock’s 50 day moving average price is $124.02 and its two-hundred day moving average price is $129.22. Atlassian has a 52 week low of $87.18 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 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.04. The firm had revenue of $363.40 million for the quarter, compared to analysts’ expectations of $351.79 million. Atlassian had a negative return on equity of 2.76% and a negative net margin of 24.95%. The business’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.20 EPS. Sell-side analysts forecast that Atlassian will post 0.05 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in Atlassian by 22.5% in 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 acquiring an additional 2,059,713 shares during the period. Morgan Stanley raised its stake in Atlassian by 168.3% in the 2nd quarter. Morgan Stanley now owns 2,139,661 shares of the technology company’s stock valued at $279,953,000 after acquiring an additional 1,342,168 shares during the period. Invesco Ltd. raised its stake in Atlassian by 435.8% in the 2nd quarter. Invesco Ltd. now owns 1,242,890 shares of the technology company’s stock valued at $162,620,000 after acquiring an additional 1,010,904 shares during the period. Nuveen Asset Management LLC raised its stake in Atlassian by 499.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 372,954 shares of the technology company’s stock valued at $48,797,000 after acquiring an additional 310,717 shares during the period. Finally, Holocene Advisors LP raised its stake in Atlassian by 51.8% in the 2nd quarter. Holocene Advisors LP now owns 780,107 shares of the technology company’s stock valued at $102,069,000 after acquiring an additional 266,125 shares during the period. Institutional investors own 87.04% 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.
Recommended Story: S&P 500 Index
Receive News & Ratings for Atlassian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atlassian and related companies with MarketBeat.com's FREE daily email newsletter.