Atlassian Corporation PLC (TEAM) was Reiterated by Canaccord Genuity to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 35 from a previous price target of $30 . Canaccord Genuity advised their investors in a research report released on Aug 5, 2016.
On the company’s financial health, Atlassian Corporation PLC reported $0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.05. The company had revenue of $127.60 million for the quarter, compared to analysts expectations of $124.26 million. The company’s revenue was up 39.0% compared to the same quarter last year.
Atlassian Corporation Plc is engaged in designing developing licensing and maintaining of software and the provisioning of software hosting services. The Company’s products include JIRA for team planning and project management; Confluence for team content creation and sharing; HipChat for team messaging and communications; Bitbucket for team code sharing and management and JIRA Service Desk for team services and support applications. It offers tools for software developers such as FishEye Bamboo and SourceTree. Its products are built upon a platform of shared components and services that provide a common system for user management add-ons search and user interfaces. It also offers Atlassian Connect which is a framework to build add-ons for its products. Its marketplace is a hosted online marketplace for free and purchasable add-ons and extensions to its products. Its Atlassian Engagement Engine tracks and analyzes user profile and behavior data.