In a report released today, Jack Andrews from Needham reiterated a Hold rating on Atlassian (TEAM). The company’s shares closed last Thursday at $187.66, close to its 52-week high of $198.41.
According to TipRanks.com, Andrews is a 5-star analyst with an average return of 25.6% and a 70.0% success rate. Andrews covers the Technology sector, focusing on stocks such as LiveRamp Holdings, CommVault Systems, and ServiceNow.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Atlassian with a $204.27 average price target, a 10.1% upside from current levels. In a report issued on July 20, Jefferies also maintained a Hold rating on the stock with a $175.00 price target.
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Based on Atlassian’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $412 million and GAAP net loss of $159 million. In comparison, last year the company earned revenue of $309 million and had a GAAP net loss of $203 million.
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Atlassian Corp. Plc is a holding company, which engages in the design, development, license, and maintenance of software and provision software hosting services. Its products include JIRA software, align, core, and Service Desk, Confluence, Trello, Bitbucket, Sourcetree, bamboo, opsgenie, and statuspage. The company was founded by Michael Cannon-Brookes and Scott Farquhar in 2002 and is headquartered in London, the United Kingdom.
