Atlassian (NASDAQ:TEAM) had its price target raised by KeyCorp from $121.00 to $142.00 in a report released on Thursday, 24/7 WallStreet reports. KeyCorp currently has an overweight rating on the technology company’s stock.

Several other research analysts have also commented on TEAM. Zacks Investment Research raised shares of Atlassian from a strong sell rating to a hold rating in a report on Friday, May 31st. Deutsche Bank lifted their price target on shares of Atlassian from $114.00 to $135.00 and gave the company a hold rating in a report on Thursday. Mizuho lifted their price target on shares of Atlassian from $120.00 to $125.00 and gave the company a buy rating in a report on Thursday, April 11th. Canaccord Genuity lifted their price target on shares of Atlassian from $105.00 to $125.00 and gave the company a buy rating in a report on Friday, April 12th. They noted that the move was a valuation call. Finally, Jefferies Financial Group lifted their price target on shares of Atlassian from $90.00 to $105.00 and gave the company a hold rating in a report on Friday, April 12th. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $121.67.

Shares of TEAM stock opened at $129.91 on Thursday. The firm has a market cap of $13.80 billion, a price-to-earnings ratio of -1,855.86, a P/E/G ratio of 205.67 and a beta of 1.40. The company has a quick ratio of 3.34, a current ratio of 3.34 and a debt-to-equity ratio of 1.22. Atlassian has a 1-year low of $60.39 and a 1-year high of $137.78.

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

A number of large investors have recently modified their holdings of the stock. Malaga Cove Capital LLC lifted its position in Atlassian by 1.5% in the 1st 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 during the last quarter. Adirondack Trust Co. raised its position in shares of Atlassian by 20.0% during the 1st quarter. Adirondack Trust Co. now owns 600 shares of the technology company’s stock worth $66,000 after buying an additional 100 shares in the last quarter. Domini Impact Investments LLC raised its position in shares of Atlassian by 2.6% during the 4th quarter. Domini Impact Investments LLC now owns 4,114 shares of the technology company’s stock worth $366,000 after buying an additional 105 shares in the last quarter. WealthTrust Arizona LLC raised its position in shares of Atlassian by 23.4% during the 4th quarter. WealthTrust Arizona LLC now owns 580 shares of the technology company’s stock worth $52,000 after buying an additional 110 shares in the last quarter. Finally, World Asset Management Inc raised its position in shares of Atlassian by 4.8% during the 1st quarter. World Asset Management Inc now owns 2,382 shares of the technology company’s stock worth $268,000 after buying an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 92.43% 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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