Atlassian Co. PLC (NASDAQ:TEAM) hit a new 52-week high on Wednesday . The stock traded as high as $35.16 and last traded at $31.90, with a volume of 2,238,320 shares. The stock had previously closed at $30.26.

Several brokerages recently weighed in on TEAM. Jefferies Group upped their price target on Atlassian Co. PLC from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. BTIG Research downgraded Atlassian Co. PLC from a “buy” rating to a “neutral” rating in a report on Wednesday, August 10th. Summit Redstone reissued a “buy” rating and issued a $35.00 target price on shares of Atlassian Co. PLC in a report on Tuesday, August 16th. Morgan Stanley set a $29.00 target price on Atlassian Co. PLC and gave the stock a “hold” rating in a report on Friday, August 5th. Finally, Oppenheimer Holdings Inc. set a $35.00 target price on Atlassian Co. PLC and gave the stock a “buy” rating in a report on Friday, August 5th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $33.00.

The firm has a market cap of $6.90 billion and a PE ratio of 1519.05. The stock’s 50-day moving average price is $29.94 and its 200 day moving average price is $25.91.

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Atlassian Co. PLC (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. The firm had revenue of $127.60 million for the quarter, compared to analysts’ expectations of $124.26 million. The business’s quarterly revenue was up 39.0% on a year-over-year basis. On average, analysts predict that Atlassian Co. PLC will post $0.33 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TEAM. Royal Bank of Canada increased its position in Atlassian Co. PLC by 482.1% in the second quarter. Royal Bank of Canada now owns 4,139 shares of the company’s stock valued at $107,000 after buying an additional 3,428 shares during the last quarter. Hershey Trust Co. purchased a new position in Atlassian Co. PLC during the second quarter valued at approximately $152,000. BlackRock Inc. increased its position in Atlassian Co. PLC by 137.0% in the second quarter. BlackRock Inc. now owns 7,996 shares of the company’s stock valued at $207,000 after buying an additional 4,622 shares during the last quarter. Trexquant Investment LP purchased a new position in Atlassian Co. PLC during the second quarter valued at approximately $235,000. Finally, Thompson Davis & CO. Inc. increased its position in Atlassian Co. PLC by 1,156.3% in the second quarter. Thompson Davis & CO. Inc. now owns 10,050 shares of the company’s stock valued at $260,000 after buying an additional 9,250 shares during the last quarter.

Atlassian Co. PLC Company Profile

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.

5 Day Chart for NASDAQ:TEAM

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