Atlassian Co. PLC (NASDAQ:TEAM) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 7,128,000 shares, a decrease of 10.3% from the July 31st total of 7,950,900 shares. Based on an average trading volume of 1,250,000 shares, the short-interest ratio is currently 5.7 days. Currently, 6.3% of the shares of the company are sold short.
TEAM traded up $1.37 during midday trading on Friday, hitting $126.88. 7,514 shares of the company were exchanged, compared to its average volume of 1,362,957. The company’s 50 day simple moving average is $138.79 and its 200 day simple moving average is $124.88. The firm has a market capitalization of $14.97 billion, a price-to-earnings ratio of -745.32, a price-to-earnings-growth ratio of 88.56 and a beta of 1.33. Atlassian has a 1-year low of $65.17 and a 1-year high of $149.80.
Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, July 25th. The technology company reported $0.20 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.26. The company had revenue of $334.59 million for the quarter, compared to the consensus estimate of $330.60 million. Atlassian had a negative return on equity of 2.45% and a negative net margin of 52.69%. The firm’s revenue for the quarter was up 35.7% compared to the same quarter last year. During the same period last year, the firm earned $0.14 EPS. On average, research analysts anticipate that Atlassian will post 0.09 EPS for the current fiscal year.
Several equities analysts recently issued reports on the company. Robert W. Baird upped their target price on Atlassian from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Cowen set a $152.00 target price on Atlassian and gave the company a “buy” rating in a research report on Friday, July 26th. KeyCorp upped their target price on Atlassian from $142.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. DA Davidson upped their target price on Atlassian to $155.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Morgan Stanley raised Atlassian from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $99.00 to $145.00 in a research report on Thursday, May 23rd. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $138.27.
Institutional investors and hedge funds have recently made changes to their positions in the business. Creative Financial Designs Inc. ADV acquired a new stake in Atlassian during the 2nd quarter worth about $26,000. Captrust Financial Advisors boosted its stake in shares of Atlassian by 233.3% during the 2nd quarter. Captrust Financial Advisors now owns 300 shares of the technology company’s stock worth $39,000 after acquiring an additional 210 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Atlassian during the 2nd quarter worth about $41,000. CWM LLC purchased a new stake in shares of Atlassian during the 2nd quarter worth about $43,000. Finally, Crewe Advisors LLC purchased a new stake in shares of Atlassian during the 2nd quarter worth about $52,000. 87.85% of the stock is currently owned by institutional investors.
Atlassian Company Profile
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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