BidaskClub Lowers Atlassian (NASDAQ:TEAM) to Buy

Atlassian (NASDAQ:TEAM) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, June 26th, BidAskClub reports.

A number of other research firms have also recently weighed in on TEAM. Deutsche Bank upped their price objective on shares of Lululemon Athletica from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Robert W. Baird increased their target price on shares of Atlassian from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. DA Davidson reduced their target price on shares of F5 Networks to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, March 13th. BTIG Research lowered shares of Atlassian from a “buy” rating to a “neutral” rating and set a $126.00 price objective for the company. in a report on Wednesday, May 29th. Finally, BMO Capital Markets dropped their price objective on shares of Pentair to $39.00 and set a “market perform” rating for the company in a report on Thursday, April 18th. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $121.67.

Shares of TEAM stock traded down $0.37 during trading hours on Wednesday, hitting $136.06. The company’s stock had a trading volume of 855,166 shares, compared to its average volume of 1,616,570. The stock has a 50 day simple moving average of $131.65. The stock has a market cap of $14.48 billion, a PE ratio of -1,943.71, a PEG ratio of 96.17 and a beta of 1.30. 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 $64.43 and a 12-month high of $143.68.

Atlassian (NASDAQ:TEAM) last posted its 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). Atlassian had a negative net margin of 38.06% and a positive return on equity of 1.34%. The firm had revenue of $309.30 million during the quarter, compared to analyst estimates of $304.68 million. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The business’s revenue for the quarter was up 37.9% on a year-over-year basis. Research analysts expect that Atlassian will post 0.03 EPS for the current year.

Large investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. boosted its holdings in Atlassian by 8.7% in the 4th quarter. Prudential Financial Inc. now owns 2,500 shares of the technology company’s stock worth $222,000 after acquiring an additional 200 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Atlassian by 1,299.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 19,592 shares of the technology company’s stock worth $1,744,000 after acquiring an additional 18,192 shares during the period. Public Employees Retirement Association of Colorado boosted its holdings in Atlassian by 6.8% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 3,621 shares of the technology company’s stock worth $322,000 after acquiring an additional 229 shares during the period. California Public Employees Retirement System boosted its holdings in Atlassian by 12.0% in the 4th quarter. California Public Employees Retirement System now owns 176,103 shares of the technology company’s stock worth $15,670,000 after acquiring an additional 18,879 shares during the period. Finally, New York State Common Retirement Fund boosted its holdings in Atlassian by 6.9% in the 4th quarter. New York State Common Retirement Fund now owns 310,533 shares of the technology company’s stock worth $27,631,000 after acquiring an additional 20,075 shares during the period. 92.07% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Atlassian (NASDAQ:TEAM)

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