Atlassian Corporation PLC’s (TEAM) “Market Perform” Rating Reiterated at BMO Capital Markets

BMO Capital Markets reaffirmed their market perform rating on shares of Atlassian Corporation PLC (NASDAQ:TEAM) in a report issued on Wednesday morning, MarketBeat.com reports. The firm currently has a $42.00 price objective on the technology company’s stock, up from their previous price objective of $40.00.

TEAM has been the subject of a number of other research reports. Morgan Stanley upgraded Atlassian Corporation PLC from an equal weight rating to an overweight rating and lifted their price objective for the company from $35.00 to $45.00 in a research note on Tuesday. Jefferies Group LLC reiterated a buy rating and set a $41.00 price objective on shares of Atlassian Corporation PLC in a research note on Friday, June 2nd. Guggenheim reiterated a neutral rating and set a $29.00 price objective on shares of Atlassian Corporation PLC in a research note on Tuesday, April 18th. Oppenheimer Holdings, Inc. reiterated an outperform rating and set a $40.00 price objective (up previously from $35.00) on shares of Atlassian Corporation PLC in a research note on Monday, May 1st. Finally, Zacks Investment Research upgraded Atlassian Corporation PLC from a hold rating to a buy rating and set a $41.00 price objective for the company in a research note on Friday, July 14th. Six 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 a consensus rating of Buy and an average target price of $37.73.

Shares of Atlassian Corporation PLC (NASDAQ:TEAM) traded down 2.24% during mid-day trading on Wednesday, reaching $37.97. The company’s stock had a trading volume of 1,001,811 shares. The firm’s 50-day moving average price is $35.56 and its 200 day moving average price is $32.16. Atlassian Corporation PLC has a 12-month low of $23.80 and a 12-month high of $39.25. The firm’s market cap is $8.56 billion.

Atlassian Corporation PLC (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, April 27th. The technology company reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.05. The business had revenue of $159.90 million during the quarter, compared to analyst estimates of $156.64 million. Atlassian Corporation PLC had a negative return on equity of 1.74% and a negative net margin of 4.62%. The company’s revenue was up 35.6% on a year-over-year basis. During the same quarter last year, the business posted $0.07 EPS. On average, analysts expect that Atlassian Corporation PLC will post $0.33 EPS for the current year.

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Institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. raised its position in shares of Atlassian Corporation PLC by 0.8% in the second quarter. Russell Investments Group Ltd. now owns 5,549 shares of the technology company’s stock valued at $196,000 after buying an additional 46 shares in the last quarter. Teza Capital Management LLC acquired a new position in shares of Atlassian Corporation PLC during the first quarter valued at $215,000. BlueCrest Capital Management Ltd acquired a new position in shares of Atlassian Corporation PLC during the first quarter valued at $221,000. Thompson Davis & CO. Inc. raised its position in shares of Atlassian Corporation PLC by 25.3% in the first quarter. Thompson Davis & CO. Inc. now owns 8,050 shares of the technology company’s stock valued at $241,000 after buying an additional 1,625 shares in the last quarter. Finally, US Bancorp DE raised its position in shares of Atlassian Corporation PLC by 132.9% in the first quarter. US Bancorp DE now owns 8,671 shares of the technology company’s stock valued at $260,000 after buying an additional 4,948 shares in the last quarter. Hedge funds and other institutional investors own 81.62% of the company’s stock.

About Atlassian Corporation PLC

Atlassian Corporation Plc is a holding company. The Company offers a range of team collaboration products. The Company offers products, including JIRA, Confluence, HipChat, Bitbucket and JIRA Service Desk, for software developers, information technology (IT) managers and knowledge workers. The Company offers JIRA for team planning and project management; Confluence for team content creation and sharing; HipChat for team real-time messaging and communications; Bitbucket for team code sharing and management, and JIRA Service Desk for team service and support applications.

Analyst Recommendations for Atlassian Corporation PLC (NASDAQ:TEAM)




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