Oppenheimer analyst Ittai Kidron assigned a Buy rating to Atlassian (TEAM) yesterday and set a price target of $200.00. The company’s shares closed last Thursday at $187.66, close to its 52-week high of $198.41.
According to TipRanks.com, Kidron is a top 25 analyst with an average return of 35.4% and a 75.9% success rate. Kidron covers the Technology sector, focusing on stocks such as Zoom Video Communications, Slack Technologies, and Arista Networks.
Currently, the analyst consensus on Atlassian is a Strong Buy with an average price target of $204.70, a 10.4% upside from current levels. In a report issued on July 20, Cleveland Research also maintained a Buy rating on the stock.
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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.
