Atlassian (NASDAQ:TEAM) Upgraded to “Strong-Buy” at BidaskClub

BidaskClub upgraded shares of Atlassian (NASDAQ:TEAM) from a buy rating to a strong-buy rating in a report published on Thursday morning, BidAskClub reports.

Several other brokerages have also weighed in on TEAM. Zacks Investment Research raised shares of GCP Applied Technologies from a sell rating to a hold rating in a research report on Friday, May 31st. Jefferies Financial Group set a $80.00 price objective on shares of Foot Locker and gave the company a buy rating in a research report on Friday, April 12th. BMO Capital Markets dropped their price objective on shares of Pentair to $39.00 and set a market perform rating on the stock in a research report on Thursday, April 18th. DA Davidson dropped their price objective on shares of F5 Networks to $170.00 and set a neutral rating on the stock in a research report on Wednesday, March 13th. Finally, Deutsche Bank increased their price objective on shares of Lululemon Athletica from $204.00 to $205.00 and gave the company a buy rating in a research report on Thursday, June 13th. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Atlassian presently has an average rating of Buy and a consensus price target of $121.67.

NASDAQ TEAM opened at $138.56 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 3.34 and a quick ratio of 3.34. The stock’s fifty day moving average price is $130.82. Atlassian has a 1 year low of $64.43 and a 1 year high of $143.68. The company has a market capitalization of $14.71 billion, a price-to-earnings ratio of 6,927.75, a P/E/G ratio of 97.15 and a beta of 1.30.

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 the Thomson Reuters’ consensus estimate of $0.18 by ($0.26). The company had revenue of $309.30 million during the quarter, compared to the consensus estimate of $304.68 million. Atlassian had a negative net margin of 38.06% and a positive return on equity of 1.34%. Atlassian’s revenue for the quarter was up 37.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 earnings per share. As a group, sell-side analysts expect that Atlassian will post 0.03 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC grew its stake in Atlassian by 6.9% during the second quarter. Nisa Investment Advisors LLC now owns 2,245 shares of the technology company’s stock worth $294,000 after buying an additional 145 shares in the last quarter. Xact Kapitalforvaltning AB grew its stake in Atlassian by 130.0% during the second quarter. Xact Kapitalforvaltning AB now owns 20,926 shares of the technology company’s stock worth $2,738,000 after buying an additional 11,826 shares in the last quarter. Harbour Capital Advisors LLC acquired a new stake in Atlassian during the second quarter worth about $394,000. Boston Private Wealth LLC acquired a new stake in Atlassian during the second quarter worth about $235,000. Finally, Carroll Financial Associates Inc. grew its stake in Atlassian by 1,301.2% during the second quarter. Carroll Financial Associates Inc. now owns 2,368 shares of the technology company’s stock worth $309,000 after buying an additional 2,199 shares in the last quarter. Institutional investors and hedge funds own 92.36% 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.

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Analyst Recommendations for Atlassian (NASDAQ:TEAM)

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