Atlassian (TEAM) Stock Rating Upgraded by Goldman Sachs Group

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Goldman Sachs Group upgraded shares of Atlassian (NASDAQ:TEAM) from a neutral rating to a buy rating in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. They currently have $125.00 price objective on the technology company’s stock, up from their prior price objective of $115.00.

Several other analysts have also recently issued reports on the stock. Robert W. Baird upped their price target on shares of Atlassian from $88.00 to $110.00 and gave the company an outperform rating in a report on Friday, January 18th. Jefferies Financial Group upped their price target on shares of Atlassian to $90.00 and gave the company a hold rating in a report on Friday, January 18th. BMO Capital Markets reaffirmed a market perform rating and issued a $100.00 price target (up from $82.00) on shares of Atlassian in a report on Friday, January 18th. BTIG Research upped their price target on shares of Atlassian to $125.00 and gave the company a buy rating in a report on Friday, February 15th. Finally, DA Davidson upped their price target on shares of Atlassian to $126.00 and gave the company a buy rating in a report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $115.40.

TEAM opened at $128.87 on Thursday. The firm has a market capitalization of $13.29 billion, a P/E ratio of -1,841.00, a P/E/G ratio of 198.10 and a beta of 1.77. The company has a debt-to-equity ratio of 1.22, a quick ratio of 3.34 and a current ratio of 3.34. Atlassian has a 12-month low of $60.32 and a 12-month high of $129.97.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Wednesday, April 17th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.26). The company had revenue of $309.30 million during the quarter, compared to analyst estimates of $304.68 million. Atlassian had a negative net margin of 38.06% and a positive return on equity of 1.34%. The company’s revenue was up 37.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 earnings per share. As a group, equities research analysts anticipate that Atlassian will post 0.03 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in Atlassian by 24.8% in the 1st quarter. BlackRock Inc. now owns 3,197,364 shares of the technology company’s stock valued at $359,352,000 after acquiring an additional 636,089 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Atlassian by 2.9% in the 1st quarter. JPMorgan Chase & Co. now owns 2,030,860 shares of the technology company’s stock valued at $228,249,000 after acquiring an additional 57,776 shares during the last quarter. 1832 Asset Management L.P. lifted its holdings in Atlassian by 33.3% in the 4th quarter. 1832 Asset Management L.P. now owns 1,202,100 shares of the technology company’s stock valued at $105,130,000 after acquiring an additional 300,044 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in Atlassian by 98.4% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,157,170 shares of the technology company’s stock valued at $102,965,000 after acquiring an additional 573,892 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Atlassian by 8.5% in the 1st quarter. Acadian Asset Management LLC now owns 931,830 shares of the technology company’s stock valued at $104,727,000 after acquiring an additional 73,126 shares during the last quarter. Institutional investors and hedge funds own 90.71% 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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