Atlassian Co. PLC (NASDAQ:TEAM) shares 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 traded 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 issued reports on TEAM. Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $115.00 to $125.00 in a research report on Thursday, May 9th. Robert W. Baird boosted their price objective on shares of Atlassian from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Canaccord Genuity boosted their price objective on shares of Atlassian from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, April 12th. They noted that the move was a valuation call. Jefferies Financial Group boosted their price objective on shares of Atlassian from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, April 12th. Finally, KeyCorp boosted their price objective on shares of Atlassian from $110.00 to $121.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $115.40.

The firm has a market cap of $13.39 billion, a P/E ratio of -1,801.14, a price-to-earnings-growth ratio of 191.21 and a beta of 1.77. The company has a current ratio of 3.34, a quick ratio of 3.34 and a debt-to-equity ratio of 1.22.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Wednesday, April 17th. The technology company reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate 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 the consensus estimate of $304.68 million. During the same quarter last year, the firm posted $0.10 EPS. The business’s quarterly revenue was up 37.9% on a year-over-year basis. As a group, equities analysts forecast that Atlassian Co. PLC will post 0.03 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the company. Man Group plc boosted its holdings in shares of Atlassian by 85.2% during the 1st quarter. Man Group plc now owns 8,115 shares of the technology company’s stock valued at $912,000 after buying an additional 3,734 shares in the last quarter. M&T Bank Corp boosted its stake in Atlassian by 4.5% in the 1st quarter. M&T Bank Corp now owns 3,029 shares of the technology company’s stock worth $340,000 after purchasing an additional 130 shares in the last quarter. Coastal Investment Advisors Inc. bought a new position in Atlassian in the 1st quarter worth about $30,000. Advisors Asset Management Inc. boosted its stake in Atlassian by 54.3% in the 1st quarter. Advisors Asset Management Inc. now owns 11,096 shares of the technology company’s stock worth $1,247,000 after purchasing an additional 3,904 shares in the last quarter. Finally, ExodusPoint Capital Management LP bought a new position in Atlassian in the 1st quarter worth about $2,170,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

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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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