Atlassian Corporation (TEAM) Receives Lower Rating From JMP Securities. What’s The Reasoning Behind This Move?

April 21, 2018 - By Kurt Siggers

Atlassian Corporation Plc (NASDAQ:TEAM) Logo

Atlassian Corporation (TEAM) Receives a Downgrade

In an analyst note issued to clients on Friday morning, JMP Securities cut shares of Atlassian Corporation (TEAM) to a lower Market Perform rating from the previous Outperform rating.

Atlassian Corporation Plc (NASDAQ:TEAM) Ratings Coverage

Among 8 analysts covering Atlassian (TEAM), 4 have Buy rating, 0 Sell and 4 Hold. Therefore 50% are positive. Atlassian has $7000 highest and $48.0 lowest target. $63’s average target is 8.24% above currents $58.205 stock price. Atlassian had 13 analyst reports since January 10, 2018 according to SRatingsIntel. Guggenheim maintained the stock with “Hold” rating in Wednesday, January 10 report. Canaccord Genuity maintained it with “Buy” rating and $6500 target in Thursday, April 19 report. Robert W. Baird maintained Atlassian Corporation Plc (NASDAQ:TEAM) on Thursday, January 18 with “Buy” rating. The firm has “Buy” rating by Cowen & Co given on Friday, January 19. On Friday, April 20 the stock rating was downgraded by JMP Securities to “Hold”. The stock of Atlassian Corporation Plc (NASDAQ:TEAM) has “Hold” rating given on Wednesday, April 18 by Jefferies. The stock of Atlassian Corporation Plc (NASDAQ:TEAM) earned “Buy” rating by Canaccord Genuity on Tuesday, January 16. As per Friday, January 19, the company rating was maintained by Guggenheim. BMO Capital Markets maintained it with “Hold” rating and $56.0 target in Friday, January 19 report. BMO Capital Markets maintained the shares of TEAM in report on Tuesday, April 17 with “Hold” rating.

The stock decreased 6.53% or $4.065 during the last trading session, reaching $58.205. About 9.31 million shares traded or 725.28% up from the average. Atlassian Corporation Plc (TEAM) has risen 82.53% since April 21, 2017 and is uptrending. It has outperformed by 70.98% the S&P500.

Atlassian Corporation Plc, through its subsidiaries, provides team collaboration and productivity software solutions worldwide. The company has market cap of $13.52 billion. It offers project tracking, content creation and sharing, real-time communication, and service management products to large and small organizations. It currently has negative earnings. The companyÂ’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; HipChat that provides teams a way to communicate in real-time and share ideas, updates, codes, and files; Trello, a Web project management application for capturing and adding structure to fluid and fast-forming work for teams; Bitbucket, a code management and collaboration product for teams using distributed version control systems; and JIRA Service Desk, a service desk product for creating and managing service experiences for various service team providers, including IT help desks, and legal and HR teams.

Atlassian Corporation Plc (NASDAQ:TEAM) Ratings Chart

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