KeyCorp Increases Atlassian (NASDAQ:TEAM) Price Target to $142.00

Atlassian (NASDAQ:TEAM) had its target price increased 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.

A number of other brokerages have also weighed in on TEAM. Zacks Investment Research lowered Atlassian from a buy rating to a hold rating in a research note on Wednesday, April 17th. Deutsche Bank started coverage on Atlassian in a research report on Wednesday, February 27th. They issued a hold rating and a $114.00 target price for the company. Mizuho lifted their target price on Atlassian from $120.00 to $125.00 and gave the stock a buy rating in a research report on Thursday, April 11th. BMO Capital Markets lifted their target price on Atlassian from $100.00 to $110.00 and gave the stock a market perform rating in a research report on Thursday, April 18th. They noted that the move was a valuation call. Finally, BidaskClub lowered Atlassian from a strong-buy rating to a buy rating in a research report on Friday, April 19th. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $121.67.

Shares of NASDAQ TEAM opened at $130.28 on Thursday. Atlassian has a fifty-two week low of $60.39 and a fifty-two week high of $137.78. The company has a quick ratio of 3.34, a current ratio of 3.34 and a debt-to-equity ratio of 1.22. The company has a market cap of $13.70 billion, a price-to-earnings ratio of -1,861.14, a price-to-earnings-growth ratio of 204.18 and a beta of 1.40.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Wednesday, April 17th. The technology company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $309.30 million for the quarter, compared to analyst estimates of $304.68 million. During the same quarter last year, the business earned $0.10 EPS. Atlassian’s revenue for the quarter was up 37.9% compared to the same quarter last year. Equities analysts expect that Atlassian will post 0.03 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of TEAM. Dixon Hubard Feinour & Brown Inc. VA bought a new stake in shares of Atlassian in the 1st quarter worth approximately $1,132,000. Laurel Wealth Advisors Inc. lifted its holdings in shares of Atlassian by 3.8% in the 1st quarter. Laurel Wealth Advisors Inc. now owns 16,326 shares of the technology company’s stock worth $1,835,000 after purchasing an additional 600 shares during the last quarter. V Wealth Advisors LLC bought a new stake in shares of Atlassian in the 1st quarter worth approximately $208,000. CWM Advisors LLC bought a new stake in shares of Atlassian in the 1st quarter worth approximately $458,000. Finally, Graticule Asia Macro Advisors LLC bought a new stake in shares of Atlassian in the 1st quarter worth approximately $2,664,000. 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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