Atlassian (NASDAQ:TEAM) Upgraded to Strong-Buy by BidaskClub
TEAM has been the topic of several other research reports. Canaccord Genuity boosted their price target on Atlassian from $105.00 to $125.00 and gave the company a buy rating in a research note on Friday, April 12th. They noted that the move was a valuation call. Deutsche Bank boosted their price target on Lululemon Athletica from $204.00 to $205.00 and gave the company a buy rating in a research note on Thursday, June 13th. KeyCorp downgraded Medidata Solutions from a sector weight rating to a sector weight rating and set a $91.30 price target on the stock. in a research note on Thursday, June 13th. BMO Capital Markets dropped their price target on Pentair to $39.00 and set a market perform rating on the stock in a research note on Thursday, April 18th. Finally, Jefferies Financial Group set a $80.00 price target on Foot Locker and gave the company a buy rating in a research note on Friday, April 12th. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Atlassian presently has an average rating of Buy and a consensus price target of $121.67.
TEAM stock traded down $1.98 on Thursday, hitting $138.92. 24,432 shares of the company’s stock were exchanged, compared to its average volume of 1,024,620. Atlassian has a 12-month low of $64.43 and a 12-month high of $143.68. The stock’s 50 day simple moving average is $130.57. The company has a current ratio of 3.34, a quick ratio of 3.34 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $14.72 billion, a PE ratio of -1,974.36, a P/E/G ratio of 98.41 and a beta of 1.30.
Hedge funds have recently modified their holdings of the company. Winslow Evans & Crocker Inc. acquired a new position in Atlassian in the 1st quarter worth about $34,000. Kwmg LLC acquired a new position in Atlassian in the 1st quarter worth about $50,000. Duncker Streett & Co. Inc. acquired a new position in Atlassian in the 1st quarter worth about $51,000. First Mercantile Trust Co. acquired a new position in Atlassian in the 1st quarter worth about $56,000. Finally, Lenox Wealth Management Inc. raised its holdings in Atlassian by 329.1% in the 1st quarter. Lenox Wealth Management Inc. now owns 545 shares of the technology company’s stock worth $61,000 after purchasing an additional 418 shares during the period. 92.36% of the stock is owned by institutional investors and hedge funds.
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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