Atlassian (NASDAQ:TEAM) Price Target Lowered to $150.00 at Goldman Sachs Group

Atlassian (NASDAQ:TEAM) had its price target lowered by Goldman Sachs Group from $170.00 to $150.00 in a research report report published on Friday, BenzingaRatingsTable reports. The firm currently has a buy rating on the technology company’s stock.

Several other research firms have also recently weighed in on TEAM. Wells Fargo & Co started coverage on Atlassian in a report on Monday, January 27th. They issued an overweight rating and a $180.00 price objective for the company. Needham & Company LLC reiterated a hold rating on shares of Atlassian in a report on Wednesday, January 22nd. Zacks Investment Research cut Atlassian from a buy rating to a hold rating in a report on Thursday. TheStreet upgraded Atlassian from a d rating to a c rating in a report on Thursday, January 23rd. Finally, KeyCorp increased their price objective on Atlassian from $150.00 to $163.00 and gave the stock an overweight rating in a report on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $155.50.

TEAM stock traded down $5.95 during trading on Friday, hitting $142.25. 1,546,718 shares of the company traded hands, compared to its average volume of 2,338,063. The firm has a market capitalization of $18.07 billion, a PE ratio of -132.94, a P/E/G ratio of 47.74 and a beta of 1.11. Atlassian has a 1 year low of $100.25 and a 1 year high of $156.12. The company has a 50-day moving average of $141.65 and a 200-day moving average of $130.43.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, January 23rd. The technology company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.10. The company had revenue of $408.70 million during the quarter, compared to analysts’ expectations of $389.43 million. Atlassian had a positive return on equity of 0.68% and a negative net margin of 17.44%. Atlassian’s quarterly revenue was up 36.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 EPS. As a group, equities analysts predict that Atlassian will post 0.14 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the company. Resources Management Corp CT ADV bought a new position in shares of Atlassian in the 3rd quarter worth approximately $25,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Atlassian in the 4th quarter worth approximately $38,000. Americana Partners LLC bought a new position in shares of Atlassian in the 4th quarter worth approximately $38,000. Allred Capital Management LLC bought a new position in shares of Atlassian in the 4th quarter worth approximately $41,000. Finally, Chevy Chase Trust Holdings Inc. bought a new position in shares of Atlassian in the 4th quarter worth approximately $45,000. 90.16% of the stock is owned by hedge funds and other 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.

Further Reading: Asset Allocation, Balancing Your Investments

Analyst Recommendations for Atlassian (NASDAQ:TEAM)

Receive News & Ratings for Atlassian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atlassian and related companies with's FREE daily email newsletter.