Atlassian Co. PLC (NASDAQ:TEAM)’s stock price was down 5.3% on Tuesday . The company traded as low as $109.09 and last traded at $110.10, approximately 3,399,073 shares changed hands during mid-day trading. An increase of 105% from the average daily volume of 1,658,465 shares. The stock had previously closed at $116.30.
Several analysts have recently commented on TEAM shares. William Blair restated a “buy” rating on shares of Atlassian in a report on Friday, September 13th. Mizuho set a $152.00 target price on Atlassian and gave the company a “buy” rating in a research note on Friday. SunTrust Banks assumed coverage on Atlassian in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $162.00 target price on the stock. Robert W. Baird raised their price target on Atlassian from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Canaccord Genuity raised their price target on Atlassian from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Atlassian currently has an average rating of “Hold” and an average target price of $141.44.
The stock has a market capitalization of $13.81 billion, a PE ratio of -647.65, a P/E/G ratio of 83.44 and a beta of 1.31. The firm has a 50 day moving average price of $127.48 and a 200 day moving average price of $128.41.
Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 17th. The technology company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.04. Atlassian had a negative return on equity of 2.76% and a negative net margin of 24.95%. The business had revenue of $363.40 million during the quarter, compared to analyst estimates of $351.79 million. During the same period in the prior year, the company earned $0.20 earnings per share. Atlassian’s revenue was up 36.0% compared to the same quarter last year. Equities research analysts predict that Atlassian Co. PLC will post 0.1 earnings per share for the current year.
Hedge funds have recently modified their holdings of the stock. Creative Financial Designs Inc. ADV purchased a new stake in shares of Atlassian in the 2nd quarter valued at approximately $26,000. Captrust Financial Advisors boosted its holdings in shares of Atlassian by 233.3% in the 2nd quarter. Captrust Financial Advisors now owns 300 shares of the technology company’s stock valued at $39,000 after buying an additional 210 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Atlassian during the 2nd quarter worth $41,000. CWM LLC acquired a new stake in Atlassian during the 2nd quarter worth $43,000. Finally, Baldwin Brothers Inc. MA acquired a new stake in Atlassian during the 3rd quarter worth $50,000. Institutional investors own 87.18% of the company’s stock.
About Atlassian (NASDAQ:TEAM)
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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