Atlassian Corporation PLC (NASDAQ:TEAM) has earned a consensus rating of “Buy” from the sixteen analysts that are currently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $40.00.

Several analysts recently issued reports on TEAM shares. BMO Capital Markets upped their price target on shares of Atlassian Corporation PLC from $33.00 to $40.00 and gave the company a “market perform” rating in a report on Friday, July 7th. Zacks Investment Research raised shares of Atlassian Corporation PLC from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Friday, July 14th. Morgan Stanley raised shares of Atlassian Corporation PLC from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $35.00 to $45.00 in a report on Tuesday, July 25th. Cowen and Company reissued a “buy” rating and set a $43.00 target price on shares of Atlassian Corporation PLC in a report on Friday, July 28th. Finally, BTIG Research reissued a “neutral” rating on shares of Atlassian Corporation PLC in a report on Tuesday, August 15th.

A number of hedge funds have recently bought and sold shares of TEAM. Janus Henderson Group PLC purchased a new stake in Atlassian Corporation PLC during the second quarter valued at about $251,088,000. FMR LLC lifted its position in shares of Atlassian Corporation PLC by 148.8% in the second quarter. FMR LLC now owns 5,448,713 shares of the technology company’s stock worth $191,686,000 after purchasing an additional 3,258,877 shares in the last quarter. State Street Corp lifted its position in shares of Atlassian Corporation PLC by 79.5% in the second quarter. State Street Corp now owns 995,220 shares of the technology company’s stock worth $35,012,000 after purchasing an additional 440,847 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Atlassian Corporation PLC by 3,340.5% in the second quarter. Wells Fargo & Company MN now owns 365,104 shares of the technology company’s stock worth $12,844,000 after purchasing an additional 354,492 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of Atlassian Corporation PLC in the second quarter worth approximately $12,263,000. 78.57% of the stock is owned by institutional investors.

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Shares of Atlassian Corporation PLC (NASDAQ:TEAM) opened at 39.77 on Wednesday. The firm’s market capitalization is $9.04 billion. Atlassian Corporation PLC has a 52 week low of $23.80 and a 52 week high of $40.43. The company’s 50-day moving average is $35.67 and its 200 day moving average is $35.01.

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.

Analyst Recommendations for Atlassian Corporation PLC (NASDAQ:TEAM)

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