Atlassian Corporation PLC (NASDAQ:TEAM)‘s stock had its “buy” rating reaffirmed by research analysts at Canaccord Genuity in a report released on Friday. They currently have a $44.00 target price on the technology company’s stock. Canaccord Genuity’s price target would suggest a potential upside of 21.72% from the company’s current price.

Several other research analysts have also commented on the company. Zacks Investment Research lowered Atlassian Corporation PLC from a “buy” rating to a “hold” rating in a report on Saturday, July 15th. Morgan Stanley raised Atlassian Corporation PLC from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $35.00 to $45.00 in a report on Tuesday, July 25th. Robert W. Baird reissued a “buy” rating and set a $43.00 price objective on shares of Atlassian Corporation PLC in a report on Thursday. ValuEngine raised Atlassian Corporation PLC from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Jefferies Group LLC reissued a “buy” rating and set a $41.00 price objective on shares of Atlassian Corporation PLC in a report on Friday, June 2nd. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $40.50.

Atlassian Corporation PLC (NASDAQ TEAM) traded down 1.09% during midday trading on Friday, hitting $36.15. 686,365 shares of the stock were exchanged. Atlassian Corporation PLC has a 1-year low of $23.80 and a 1-year high of $39.25. The company’s 50 day moving average is $35.48 and its 200 day moving average is $33.97. The company’s market capitalization is $8.16 billion.

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A number of institutional investors and hedge funds have recently modified their holdings of TEAM. 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. US Bancorp DE boosted its stake in Atlassian Corporation PLC by 132.9% in the first quarter. US Bancorp DE now owns 8,671 shares of the technology company’s stock worth $260,000 after buying an additional 4,948 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in 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 worth $1,676,000 after buying an additional 480 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in Atlassian Corporation PLC by 19.0% in the first quarter. UBS Asset Management Americas Inc. now owns 82,581 shares of the technology company’s stock worth $2,473,000 after buying an additional 13,212 shares in the last quarter. Finally, Teza Capital Management LLC purchased a new stake in Atlassian Corporation PLC in the first quarter worth approximately $215,000. 78.57% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Atlassian Corporation PLC (NASDAQ:TEAM)

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