Atlassian Corporation PLC (NASDAQ:TEAM) was upgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Tuesday, July 25th, Marketbeat.com reports. The firm presently has a $45.00 price objective on the technology company’s stock, up from their prior price objective of $35.00. Morgan Stanley’s price objective suggests a potential upside of 23.83% from the company’s previous close.
TEAM has been the topic of a number of other reports. BTIG Research reaffirmed a “neutral” rating on shares of Atlassian Corporation PLC in a research report on Monday, April 24th. Jefferies Group LLC reaffirmed a “buy” rating and set a $41.00 target price (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 target price 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, ValuEngine raised shares of Atlassian Corporation PLC from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $39.10.
Shares of Atlassian Corporation PLC (NASDAQ TEAM) traded down 1.54% on Tuesday, reaching $36.34. The company had a trading volume of 433,512 shares. The firm’s market capitalization is $8.21 billion. The stock’s 50 day moving average is $35.88 and its 200 day moving average is $33.17. Atlassian Corporation PLC has a 52 week low of $23.80 and a 52 week high of $39.25.
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A number of institutional investors have recently modified their holdings of TEAM. Russell Investments Group Ltd. raised its position in shares of Atlassian Corporation PLC by 0.8% in the second quarter. Russell Investments Group Ltd. now owns 5,549 shares of the technology company’s stock valued at $196,000 after buying an additional 46 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of Atlassian Corporation PLC by 0.8% in the second quarter. Macquarie Group Ltd. now owns 49,354 shares of the technology company’s stock valued at $1,736,000 after buying an additional 375 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Atlassian Corporation PLC by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 55,951 shares of the technology company’s stock valued at $1,676,000 after buying an additional 480 shares during the period. BlueCrest Capital Management Ltd increased its stake in shares of Atlassian Corporation PLC by 10.0% in the second quarter. BlueCrest Capital Management Ltd now owns 8,133 shares of the technology company’s stock valued at $286,000 after buying an additional 741 shares during the period. Finally, Thompson Davis & CO. Inc. increased its stake in shares of Atlassian Corporation PLC by 25.3% in the first quarter. Thompson Davis & CO. Inc. now owns 8,050 shares of the technology company’s stock valued at $241,000 after buying an additional 1,625 shares during the period. 81.51% of the stock is currently owned by institutional investors.
Atlassian Corporation PLC Company Profile
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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