Atlassian Co. PLC (NASDAQ:TEAM) – Stock analysts at KeyCorp raised their Q3 2020 EPS estimates for shares of Atlassian in a research note issued to investors on Tuesday, September 4th. KeyCorp analyst A. Kurtz now anticipates that the technology company will earn $0.06 per share for the quarter, up from their prior estimate of $0.05.

A number of other analysts have also recently weighed in on the company. Zacks Investment Research raised Atlassian from a “hold” rating to a “buy” rating and set a $97.00 price objective for the company in a research report on Saturday. Summit Insights cut Atlassian from a “buy” rating to a “hold” rating in a research report on Friday. DA Davidson increased their price objective on Atlassian from $88.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday. Jefferies Financial Group increased their target price on Atlassian to $83.00 and gave the stock a “hold” rating in a research note on Tuesday, September 4th. Finally, Canaccord Genuity reissued a “buy” rating and set a $100.00 target price on shares of Atlassian in a research note on Tuesday, September 4th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $76.58.

Atlassian stock opened at $87.01 on Friday. Atlassian has a twelve month low of $33.16 and a twelve month high of $92.26. The company has a quick ratio of 2.02, a current ratio of 3.95 and a debt-to-equity ratio of 0.92. The company has a market cap of $9.21 billion, a price-to-earnings ratio of -1,243.00, a P/E/G ratio of 66.42 and a beta of 2.61.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, July 26th. The technology company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. Atlassian had a negative return on equity of 2.30% and a negative net margin of 13.65%. The company had revenue of $243.80 million during the quarter, compared to analysts’ expectations of $233.42 million. During the same period last year, the firm earned $0.09 EPS. The firm’s revenue for the quarter was up 39.9% on a year-over-year basis.

Several hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of Atlassian by 39.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,655,435 shares of the technology company’s stock worth $103,497,000 after buying an additional 471,860 shares in the last quarter. Leonetti & Associates LLC raised its stake in shares of Atlassian by 3.4% during the 2nd quarter. Leonetti & Associates LLC now owns 123,400 shares of the technology company’s stock worth $7,715,000 after buying an additional 4,050 shares in the last quarter. Zacks Investment Management raised its stake in shares of Atlassian by 5.5% during the 2nd quarter. Zacks Investment Management now owns 17,490 shares of the technology company’s stock worth $1,093,000 after buying an additional 918 shares in the last quarter. Vident Investment Advisory LLC purchased a new position in shares of Atlassian during the 2nd quarter worth approximately $896,000. Finally, Sterling Capital Management LLC raised its stake in shares of Atlassian by 1.5% during the 2nd quarter. Sterling Capital Management LLC now owns 154,827 shares of the technology company’s stock worth $9,680,000 after buying an additional 2,227 shares in the last quarter. 98.99% of the stock is owned by institutional investors and hedge funds.

Atlassian Company Profile

Atlassian Corporation Plc, through its subsidiaries, provides team collaboration and productivity software solutions worldwide. It offers project tracking, content creation and sharing, real-time communication, and service management products to large and small organizations. 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; HipChat that provides teams a way to communicate in real-time and share ideas, updates, codes, and files; Trello, a Web-based project management application for capturing and adding structure to fluid and fast-forming work for teams; Bitbucket, a code management and collaboration product for teams using distributed version control systems; and JIRA Service Desk, a service desk product for creating and managing service experiences for various service team providers, including IT help desks, and legal and HR teams.

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