Atlassian Corporation Plc (NASDAQ: TEAM) Not A Good Play Anymore?


    T. Rowe Price Associates, Inc. (I.. has recently announced that it has increased stake in Atlassian Corporation Plc (NASDAQ:TEAM) by 2.80%. After grabbing 15.79 million shares, the institutional investor is now in possession of 0.43 million shares of the Technology Company. The new investment brought the stake of investor firm to 12.56% having worth around $2.79 billion. Moreover, Renaissance Technologies LLC increased its share by 0.4 million to have a control over 6.84 million shares. And Jennison Associates LLC raised its holdings to 3.13 million shares by acquiring 5.68 million shares or 4.51% of the stake.

    Atlassian Corporation Plc (TEAM) concluded trading on 08/26/20 at a closing price of $182.95, with 2.36 million shares of worth about $431.23 million changed hands on the day. Weekly performance of the stock remained positive as price took a surge of 12.14% during that period and on Wednesday the price saw a gain of about 6.00%. Currently the company’s common shares owned by public are about 225.61M shares, out of which, 127.06M shares are available for trading.

    A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 23 analysts are covering the TEAM stock and their offered price forecasts bring an average price target of $194.11. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $240.00 and could fall to a lowest price of $100.00. Analysts also issued an outlook of 2.00 for the Atlassian Corporation Plc stock for next 12 months. The stock’s current price level is 4.13% above of average price target set by the analysts, while a rise to estimated low would result in loss of -82.95 for the stock. However, touching the estimated high of $240.00 would mean a gain of 23.77% for the stock.

    T Rowe Price New Horizons Fund, American Funds Growth Fund of Ame, and Fidelity Contrafund are the top 3 mutual funds which are holding stakes in Atlassian Corporation Plc T Rowe Price New Horizons Fund is currently holding 3.78 million shares of worth totaling $666.92 million. The company recently came buying 0.24 million shares which brought its stake up to 3.00% of the company’s outstanding shares. American Funds Growth Fund of Ame sold -0.4 million shares, after which its hold over company’s outstanding shares shrunk to 2.56%, leaving 3.23 million shares with the mutual fund that have a worth of about $569.81 million. Fidelity Contrafund, after selling 2.74 million shares, have now control over 2.18% of the stake in the company. It holds 8805.0 shares of worth $484.44 million.

    Atlassian Corporation Plc (NASDAQ: TEAM) started trading at $175.01, above $2.42 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $182.95, or with a gain of 6.00%. Stock saw a price change of 12.14% in past 5 days and over the past one month there was a price change of -0.22%. Year-to-date (YTD), TEAM shares are showing a performance of 52.03% which increased to 28.28% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $107.00 but also hit the highest price of $198.41 during that period. While comparing its average daily trading volume of 1.94 million shares, we see that about 2.36 million changed hands on the day. The stock is currently trading 6.94% above its 20-day simple moving average (SMA20), while that difference is up 2.67% for SMA50 and it goes to 20.04% higher than SMA200.

    T. Rowe Price Associates, Inc. (I.. acquired 15.79 million shares of Atlassian Corporation Plc having value of about $2.79 billion. Data submitted at the U.S SEC by T. Rowe Price Associates, Inc. (I.. revealed that the firm now holds 0.43 million shares in the company valued at close to $78607028.8, or have control over 2.80% stake in the company. Atlassian Corporation Plc (NASDAQ: TEAM) currently have 225.61M outstanding shares and institutions hold larger chunk of about 93.10% of that. Holding of mutual funds in the company is about 44.22% while other institutional holders and individual stake holders have control over 49.08% and — of the stake respectively.

    The stock has a current market capitalization of $45.69B and its 3Y-monthly beta is at 0.93. It has posted earnings per share of -$1.58 in the same period. It has Quick Ratio of 0.90 while making debt-to-equity ratio of 2.01. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for TEAM, volatility over the week remained 3.54% while standing at 3.44% over the month.

    Analysts are in expectations that Atlassian Corporation Plc (TEAM) stock would likely to be making an EPS of $0.27 in the current quarter, while forecast for next quarter ESPS is $0.34 and it is $1.53 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.26 which is $0.3 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.28 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 46.40% while it is estimated to increase by 30.69% in next year. EPS is likely to shrink at an annualized rate of 18.35% for next 5-years, compared to annual growth of 38.15% made by the stock over the past 5-years.

    Analysts at 23 brokerage firms have issued recommendations for the Atlassian Corporation Plc (TEAM)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 23 Wall Street analysts, 14 recommended a “Buy” rating, while 7 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.

    Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Citigroup on May 15, 2020 offering a Buy rating for the stock and assigned a target price of $252 to it. Coverage by Wells Fargo stated Atlassian Corporation Plc (TEAM) stock as an Overweight in their note to investors on January 28, 2020, suggesting a price target of for the stock. On January 27, 2020, Wells Fargo Initiated their recommendations, while on January 24, 2020, Canaccord Genuity Reiterated their ratings for the stock with a price target of $165. Stock get a Market perform rating from BMO Capital Markets on January 24, 2020.


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