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Atlassian Corporation Plc (TEAM) 2021 Stock Forecast: Bullish Outlook with 34.82% Upside

Atlassian Corporation Plc (NASDAQ: TEAM) is -2.46% lower on its value in year-to-date trading and has touched a low of $146.06 and a high of $262.40 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The TEAM stock was last observed hovering at around $235.96 in the last trading session, with the day’s loss setting it -7.84% off its average median price target of $270.00 for the next 12 months. It is also 34.82% off the consensus price target high of $350.00 offered by 22 analysts, but current levels are -14.06% lower than the price target low of $200.00 for the same period.

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Currently trading at $228.12, the stock is -0.22% and -0.68% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.38 million and changing -3.32% at the moment leaves the stock 8.69% off its SMA200. TEAM registered 49.36% gain for a year compared to 6-month loss of 7.09%. The firm has a 50-day simple moving average (SMA 50) of $225.48 and a 200-day simple moving average (SMA200) of $224.48.

The stock witnessed a 11.59% gain in the last 1 month and extending the period to 3 months gives it a 0.48%, and is -0.14% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.08% over the week and 3.58% over the month.

Atlassian Corporation Plc (TEAM) has around 4907 employees, a market worth around $56.46B and $1.80B in sales. Fwd P/E is 160.65. Profit margin for the company is -65.80%. Distance from 52-week low is 56.18% and -13.06% from its 52-week high. The company has generated returns on investments over the last 12 months (0.60%).

Atlassian Corporation Plc (TEAM) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Atlassian Corporation Plc (TEAM) is a “Overweight”. 22 analysts offering their recommendations for the stock have an average rating of 2.00, where 8 rate it as a Hold and 1 think it is a “Overweight”. 13 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Atlassian Corporation Plc is expected to release its quarterly report on 07/29/2021 and quarterly earnings per share for the current quarter are estimated at $0.29 with sales reaching $533.73M over the same period.The EPS is expected to grow by 46.40% this year, but quarterly earnings will post 23.30% year-over-year. Quarterly sales are estimated to grow 29.70% in year-over-year returns.

Atlassian Corporation Plc (TEAM) Top Institutional Holders

790 institutions hold shares in Atlassian Corporation Plc (TEAM), with 3.05M shares held by insiders accounting for 1.22% while institutional investors hold 95.04% of the company’s shares. The shares outstanding are 249.19M, and float is at 129.16M with Short Float at 4.26%. Institutions hold 93.88% of the Float.

The top institutional shareholder in the company is Price (T.Rowe) Associates Inc with over 12.83 million shares valued at $3.0 billion. The investor’s holdings represent 9.70% of the TEAM Shares outstanding. As of Dec 30, 2020, the second largest holder is Capital Research Global Investors with 7.25 million shares valued at $1.7 billion to account for 5.49% of the shares outstanding. The other top investors are Baillie Gifford and Company which holds 6.58 million shares representing 4.98% and valued at over $1.54 billion, while FMR, LLC holds 4.97% of the shares totaling 6.57 million with a market value of $1.54 billion.

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Atlassian Corporation Plc (TEAM): Who are the competitors?

The company’s main competitors (and peers) include Progress Software Corporation (PRGS) that is trading 7.53% up over the past 12 months. Short interest in the company’s stock has risen 1.79% from the last report on Apr 14, 2021 to stand at a total of 5.5 million short shares sold with a short interest ratio of 3.55.

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