Atlassian Co. Plc (NASDAQ:TEAM) Receives $375.83 Average Target Price from Brokerages

Posted by on Jun 7th, 2022

Shares of Atlassian Co. Plc (NASDAQ:TEAM – Get Rating) have been given a consensus recommendation of “Buy” by the twenty-one ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $375.83.

TEAM has been the subject of a number of research analyst reports. Piper Sandler reduced their price objective on Atlassian from $414.00 to $384.00 and set an “overweight” rating for the company in a report on Friday, April 8th. Jefferies Financial Group cut their target price on Atlassian from $275.00 to $180.00 in a research note on Monday, May 23rd. Mizuho reduced their price objective on Atlassian from $500.00 to $360.00 in a research report on Monday, May 16th. StockNews.com started coverage on Atlassian in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Wells Fargo & Company reduced their price target on Atlassian from $400.00 to $300.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 18th.

TEAM opened at $190.27 on Tuesday. The stock has a market capitalization of $26.13 billion, a P/E ratio of -66.30 and a beta of 1.09. Atlassian has a 12 month low of $159.54 and a 12 month high of $483.13. The firm’s fifty day simple moving average is $228.27 and its 200 day simple moving average is $290.22. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 3.30.

Atlassian (NASDAQ:TEAM – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The technology company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.32 by $0.15. The firm had revenue of $740.49 million for the quarter, compared to analysts’ expectations of $703.87 million. Atlassian had a negative net margin of 27.73% and a negative return on equity of 56.13%. The company’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 EPS. On average, equities research analysts predict that Atlassian will post -0.36 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of TEAM. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Atlassian by 35.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 103,150 shares of the technology company’s stock valued at $30,308,000 after buying an additional 27,006 shares during the last quarter. Walleye Capital LLC boosted its position in Atlassian by 211.9% in the 1st quarter. Walleye Capital LLC now owns 7,288 shares of the technology company’s stock worth $2,141,000 after purchasing an additional 4,951 shares in the last quarter. Advisory Services Network LLC raised its stake in shares of Atlassian by 8.5% during the 1st quarter. Advisory Services Network LLC now owns 11,236 shares of the technology company’s stock worth $3,301,000 after buying an additional 880 shares during the period. Capital Group International Inc. CA raised its stake in Atlassian by 5.8% in the 1st quarter. Capital Group International Inc. CA now owns 191,849 shares of the technology company’s stock valued at $56,371,000 after purchasing an additional 10,476 shares during the last quarter. Finally, Capital Group Private Client Services Inc. raised its stake in Atlassian by 2.9% in the 1st quarter. Capital Group Private Client Services Inc. now owns 28,824 shares of the technology company’s stock valued at $8,469,000 after purchasing an additional 806 shares during the last quarter. 91.33% of the stock is owned by institutional investors.

Atlassian Company Profile (Get Rating)

Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include JIRA, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise agile planning; Opsgenie, an incident management tool that centralizes alerts and notifies right people at right time; and Statuspage for incident communication.

Further Reading

Analyst Recommendations for Atlassian (NASDAQ:TEAM)

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