Atlassian Co. PLC (NASDAQ:TEAM) has been assigned an average rating of “Buy” from the seventeen research firms that are covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $72.70.
Several equities research analysts have recently weighed in on TEAM shares. Zacks Investment Research upgraded Atlassian from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a report on Wednesday, April 25th. BMO Capital Markets raised their price objective on Atlassian from $56.00 to $65.00 and gave the stock a “market perform” rating in a report on Wednesday, April 18th. They noted that the move was a valuation call. Cowen restated a “buy” rating and set a $70.00 price objective on shares of Atlassian in a report on Wednesday, April 18th. Jefferies Financial Group downgraded Atlassian from a “buy” rating to a “hold” rating in a report on Wednesday, April 18th. Finally, Morgan Stanley raised their price objective on Atlassian from $63.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, July 26th.
Shares of Atlassian traded down $0.24, hitting $78.07, during midday trading on Tuesday, according to Marketbeat.com. The company’s stock had a trading volume of 865,379 shares, compared to its average volume of 1,478,068. Atlassian has a 12-month low of $33.16 and a 12-month high of $79.82. The company has a market cap of $7.80 billion, a price-to-earnings ratio of -1,115.29, a PEG ratio of 80.57 and a beta of 2.44.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Citigroup Inc. bought a new stake in Atlassian during the 1st quarter valued at $103,000. Comerica Bank bought a new stake in Atlassian during the 1st quarter valued at $210,000. Oppenheimer & Co. Inc. bought a new stake in Atlassian during the 2nd quarter valued at $218,000. Parametrica Management Ltd bought a new stake in Atlassian during the 1st quarter valued at $202,000. Finally, Delpha Capital Management LLC bought a new stake in Atlassian during the 1st quarter valued at $212,000. 89.41% of the stock is currently owned by institutional investors and hedge funds.
Atlassian Company Profile
Atlassian Corporation Plc, through its subsidiaries, provides team collaboration and productivity software solutions worldwide. It offers project tracking, content creation and sharing, real-time communication, and service management products to large and small organizations. The company'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-based 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.
Read More: Leveraged Buyout (LBO) Explained
Receive News & Ratings for Atlassian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atlassian and related companies with MarketBeat.com's FREE daily email newsletter.