In a report released today, Ittai Kidron from Oppenheimer assigned a Buy rating to Atlassian (TEAM), with a price target of $350.00. The company’s shares closed last Monday at $230.67, close to its 52-week high of $250.03.
According to TipRanks.com, Kidron is a top 25 analyst with an average return of 41.5% and a 77.6% success rate. Kidron covers the Technology sector, focusing on stocks such as Zoom Video Communications, Slack Technologies, and Cambium Networks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Atlassian with a $240.64 average price target, representing a 2.5% upside. In a report issued on January 6, Macquarie also initiated coverage with a Buy rating on the stock with a $259.00 price target.
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Based on Atlassian’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $460 million and GAAP net loss of $21.55 million. In comparison, last year the company earned revenue of $363 million and had a net profit of $69.32 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.