Atlassian Corporation PLC (NASDAQ:TEAM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday, July 14th. The brokerage presently has a $41.00 price target on the technology company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 16.64% from the company’s current price.
According to Zacks, “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 consists of FishEye, Bamboo and SourceTree. Atlassian Corporation Plc is headquartered in Sydney, Australia. “
TEAM has been the subject of several other reports. BTIG Research reissued a “neutral” rating on shares of Atlassian Corporation PLC in a research note on Monday, April 24th. Jefferies Group LLC reaffirmed a “buy” rating and set a $41.00 price objective (up from $39.00) on shares of Atlassian Corporation PLC in a research report on Saturday, April 29th. BMO Capital Markets reaffirmed a “hold” rating and set a $29.00 price objective on shares of Atlassian Corporation PLC in a research report on Friday, April 21st. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Atlassian Corporation PLC in a research report on Thursday, April 20th. Finally, William Blair reaffirmed an “outperform” rating on shares of Atlassian Corporation PLC in a research report on Wednesday, March 22nd. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $38.73.
Shares of Atlassian Corporation PLC (NASDAQ:TEAM) traded down 0.79% on Friday, hitting $35.15. 295,592 shares of the stock traded hands. Atlassian Corporation PLC has a 52-week low of $23.80 and a 52-week high of $39.25. The firm’s market cap is $7.94 billion. The firm has a 50 day moving average price of $35.70 and a 200 day moving average price of $32.57.
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Several large investors have recently added to or reduced their stakes in TEAM. Russell Investments Group Ltd. purchased a new stake in Atlassian Corporation PLC during the fourth quarter worth $499,000. State Street Corp boosted its stake in Atlassian Corporation PLC by 56.9% in the fourth quarter. State Street Corp now owns 561,142 shares of the technology company’s stock worth $13,512,000 after buying an additional 203,557 shares in the last quarter. Norges Bank purchased a new stake in Atlassian Corporation PLC during the fourth quarter worth $10,176,000. Quadrature Capital Ltd purchased a new stake in Atlassian Corporation PLC during the fourth quarter worth $1,360,000. Finally, Teachers Advisors LLC boosted its stake in Atlassian Corporation PLC by 12.8% in the fourth quarter. Teachers Advisors LLC now owns 24,270 shares of the technology company’s stock worth $584,000 after buying an additional 2,755 shares in the last quarter. Institutional investors and hedge funds own 81.51% of the company’s stock.
About Atlassian Corporation PLC
Atlassian Corporation Plc is a holding company. The Company offers a range of team collaboration products. The Company offers products, including JIRA, Confluence, HipChat, Bitbucket and JIRA Service Desk, for software developers, information technology (IT) managers and knowledge workers. The Company offers JIRA for team planning and project management; Confluence for team content creation and sharing; HipChat for team real-time messaging and communications; Bitbucket for team code sharing and management, and JIRA Service Desk for team service and support applications.
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