Atlassian (NASDAQ:TEAM) Earns Buy Rating from Analysts at Oppenheimer

Oppenheimer began coverage on shares of Atlassian (NASDAQ:TEAM) in a research report report published on Thursday morning, TipRanks reports. The firm issued a buy rating and a $200.00 target price on the technology company’s stock.

A number of other brokerages have also weighed in on TEAM. KeyCorp boosted their price objective on Atlassian from $163.00 to $201.00 and gave the stock an overweight rating in a research report on Wednesday, July 1st. Jefferies Financial Group boosted their price target on Atlassian from $145.00 to $175.00 and gave the stock a hold rating in a report on Monday, July 20th. They noted that the move was a valuation call. Morgan Stanley raised their price objective on shares of Atlassian from $173.00 to $200.00 and gave the company an overweight rating in a report on Tuesday, July 14th. BidaskClub downgraded shares of Atlassian from a buy rating to a hold rating in a research report on Wednesday, July 15th. Finally, Citigroup assumed coverage on shares of Atlassian in a research report on Friday, May 15th. They issued a buy rating for the company. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Atlassian has an average rating of Buy and a consensus price target of $181.25.

TEAM stock opened at $176.65 on Thursday. The firm has a 50-day moving average price of $181.83 and a 200-day moving average price of $158.97. Atlassian has a 12 month low of $107.00 and a 12 month high of $198.41. The stock has a market capitalization of $21.54 billion, a P/E ratio of -122.67, a price-to-earnings-growth ratio of 33.94 and a beta of 1.02.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, July 30th. The technology company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.32. The business had revenue of $430.48 million during the quarter, compared to the consensus estimate of $408.86 million. Atlassian had a negative net margin of 21.72% and a positive return on equity of 2.00%. Sell-side analysts forecast that Atlassian will post 0.23 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in TEAM. National Asset Management Inc. lifted its position in shares of Atlassian by 139.1% during the 2nd quarter. National Asset Management Inc. now owns 4,799 shares of the technology company’s stock valued at $866,000 after acquiring an additional 2,792 shares during the period. Comerica Bank grew its holdings in Atlassian by 18.5% in the second quarter. Comerica Bank now owns 5,177 shares of the technology company’s stock worth $990,000 after purchasing an additional 810 shares during the period. Dixon Hubard Feinour & Brown Inc. VA bought a new stake in Atlassian in the second quarter valued at $229,000. Wilbanks Smith & Thomas Asset Management LLC acquired a new position in shares of Atlassian during the second quarter valued at about $233,000. Finally, Sigma Planning Corp bought a new position in shares of Atlassian during the 2nd quarter worth about $270,000. Institutional investors own 93.16% of the company’s stock.

About Atlassian

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.

See Also: Net Margin

Analyst Recommendations for Atlassian (NASDAQ:TEAM)

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