Shares of Atlassian Co. Plc (NASDAQ:TEAM) have earned an average recommendation of “Buy” from the eighteen ratings firms that are covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $265.81.
Several research analysts have recently issued reports on the company. Mizuho upped their price objective on Atlassian from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, July 16th. Robert W. Baird upped their price objective on Atlassian from $270.00 to $290.00 and gave the company an “outperform” rating in a research note on Tuesday, June 29th. Cowen downgraded Atlassian from an “outperform” rating to a “market perform” rating and set a $260.00 price objective for the company. in a research note on Thursday. They noted that the move was a valuation call. Oppenheimer reaffirmed a “buy” rating and issued a $350.00 price objective on shares of Atlassian in a research note on Friday, April 30th. Finally, Macquarie upped their price objective on Atlassian from $263.00 to $270.00 and gave the company an “outperform” rating in a research note on Friday, April 30th.
Shares of TEAM stock traded down $1.13 on Friday, reaching $267.72. The company had a trading volume of 20,454 shares, compared to its average volume of 937,598. The firm has a market capitalization of $35.38 billion, a PE ratio of -76.60, a PEG ratio of 334.52 and a beta of 0.84. Atlassian has a one year low of $160.01 and a one year high of $275.67. The firm has a 50-day simple moving average of $246.66.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Neo Ivy Capital Management bought a new stake in shares of Atlassian during the 4th quarter worth $28,000. Defined Wealth Management LLC purchased a new stake in Atlassian in the 4th quarter worth about $36,000. Prime Capital Investment Advisors LLC grew its holdings in Atlassian by 67.2% during the 1st quarter. Prime Capital Investment Advisors LLC now owns 214 shares of the technology company’s stock valued at $45,000 after buying an additional 86 shares in the last quarter. Jackson Grant Investment Advisers Inc. purchased a new position in Atlassian during the 4th quarter valued at about $47,000. Finally, Parallel Advisors LLC grew its holdings in Atlassian by 127.3% during the 1st quarter. Parallel Advisors LLC now owns 225 shares of the technology company’s stock valued at $47,000 after buying an additional 126 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.
Atlassian Corp. Plc is a holding company, which engages in the design, development, license, and maintenance of software and provision software hosting services. Its products include JIRA software, align, core, and Service Desk, Confluence, Trello, Bitbucket, Sourcetree, bamboo, opsgenie, and statuspage.
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