Atlassian Co. PLC (NASDAQ:TEAM)’s share price fell 6.3% during mid-day trading on Monday . The company traded as low as $120.63 and last traded at $120.78. 2,720,342 shares changed hands during trading, an increase of 49% from the average session volume of 1,823,855 shares. The stock had previously closed at $128.87.
A number of brokerages have recently issued reports on TEAM. Canaccord Genuity raised their target price on shares of Atlassian from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. They noted that the move was a valuation call. BidaskClub raised Atlassian from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 1st. Goldman Sachs Group raised Atlassian from a “neutral” rating to a “buy” rating and increased their price target for the stock from $115.00 to $125.00 in a report on Thursday, May 9th. Deutsche Bank started coverage on Atlassian in a report on Wednesday, February 27th. They set a “hold” rating and a $114.00 price target for the company. Finally, Zacks Investment Research downgraded Atlassian from a “hold” rating to a “strong sell” rating in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Atlassian has a consensus rating of “Buy” and a consensus price target of $115.40.
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 firm has a market cap of $12.83 billion, a P/E ratio of -1,725.43, a price-to-earnings-growth ratio of 198.10 and a beta of 1.77.
Atlassian (NASDAQ:TEAM) last released its earnings results on Wednesday, April 17th. The technology company reported ($0.08) EPS 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 during the quarter, compared to analyst estimates of $304.68 million. During the same period last year, the business posted $0.10 EPS. Atlassian’s revenue was up 37.9% compared to the same quarter last year. On average, research analysts anticipate that Atlassian Co. PLC will post 0.03 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Atlassian by 20.6% in the third quarter. Vanguard Group Inc. now owns 547,798 shares of the technology company’s stock valued at $52,666,000 after buying an additional 93,536 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Atlassian by 9.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 121,033 shares of the technology company’s stock valued at $10,770,000 after buying an additional 10,522 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Atlassian by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 300,255 shares of the technology company’s stock valued at $26,716,000 after buying an additional 22,604 shares in the last quarter. Signition LP purchased a new position in shares of Atlassian in the fourth quarter valued at $1,513,000. Finally, CIBC Private Wealth Group LLC increased its position in shares of Atlassian by 136.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 16,025 shares of the technology company’s stock valued at $1,426,000 after buying an additional 9,245 shares in the last quarter. 90.71% of the stock is owned by institutional investors.
Atlassian Company Profile (NASDAQ:TEAM)
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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