Canaccord Genuity Raises Atlassian (TEAM) Price Target to $125.00

Atlassian (NASDAQ:TEAM) had its price target raised by Canaccord Genuity from $105.00 to $125.00 in a report released on Friday, The Fly reports. They currently have a buy rating on the technology company’s stock. The analysts noted that the move was a valuation call.

Several other analysts have also commented on TEAM. Mizuho lifted their price objective on Atlassian from $120.00 to $125.00 and gave the stock a buy rating in a report on Thursday. Zacks Investment Research lowered Atlassian from a buy rating to a hold rating in a report on Thursday, March 14th. KeyCorp lifted their price objective on Atlassian from $110.00 to $121.00 and gave the stock an overweight rating in a report on Tuesday, April 2nd. Jefferies Financial Group lifted their target price on Atlassian from $90.00 to $105.00 and gave the company a hold rating in a research report on Friday. Finally, BidaskClub downgraded Atlassian from a strong-buy rating to a buy rating in a research report on Saturday, January 19th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $114.00.

Shares of TEAM opened at $112.68 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 3.44 and a quick ratio of 3.44. Atlassian has a one year low of $54.54 and a one year high of $116.70. The firm has a market capitalization of $12.15 billion, a P/E ratio of -1,609.71, a PEG ratio of 102.75 and a beta of 1.85.



Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, January 17th. The technology company reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.15). Atlassian had a positive return on equity of 3.01% and a negative net margin of 22.96%. The firm had revenue of $299.00 million during the quarter, compared to the consensus estimate of $288.28 million. During the same period in the previous year, the firm earned $0.13 EPS. The business’s revenue was up 40.6% on a year-over-year basis. Equities research analysts predict that Atlassian will post 0.08 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Malaga Cove Capital LLC lifted its position in Atlassian by 1.5% during the first quarter. Malaga Cove Capital LLC now owns 6,471 shares of the technology company’s stock valued at $727,000 after purchasing an additional 93 shares in the last quarter. Domini Impact Investments LLC lifted its position in Atlassian by 2.6% during the fourth quarter. Domini Impact Investments LLC now owns 4,114 shares of the technology company’s stock valued at $366,000 after purchasing an additional 105 shares in the last quarter. WealthTrust Arizona LLC lifted its position in Atlassian by 23.4% during the fourth quarter. WealthTrust Arizona LLC now owns 580 shares of the technology company’s stock valued at $52,000 after purchasing an additional 110 shares in the last quarter. World Asset Management Inc lifted its position in Atlassian by 8.4% during the fourth quarter. World Asset Management Inc now owns 2,272 shares of the technology company’s stock valued at $202,000 after purchasing an additional 176 shares in the last quarter. Finally, American International Group Inc. lifted its position in Atlassian by 8.1% during the fourth quarter. American International Group Inc. now owns 2,401 shares of the technology company’s stock valued at $214,000 after purchasing an additional 179 shares in the last quarter. Institutional investors own 91.22% 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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