Atlassian Corporation PLC (NASDAQ:TEAM) had its price objective raised by research analysts at Robert W. Baird from $43.00 to $50.00 in a report released on Friday. The brokerage currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price target points to a potential downside of 0.34% from the company’s previous close.

Several other analysts also recently weighed in on TEAM. BMO Capital Markets boosted their price objective on shares of Atlassian Corporation PLC to $51.00 and gave the stock a “market perform” rating in a research report on Friday. Oppenheimer Holdings, Inc. upped their price target on shares of Atlassian Corporation PLC to $50.00 and gave the company an “outperform” rating in a research report on Friday. Cowen and Company reiterated an “outperform” rating and issued a $55.00 price target (up previously from $47.00) on shares of Atlassian Corporation PLC in a research report on Friday. Morgan Stanley set a $49.00 price objective on shares of Atlassian Corporation PLC and gave the company a “buy” rating in a research note on Friday. Finally, Canaccord Genuity reissued a “buy” rating and issued a $52.00 price objective (up from $44.00) on shares of Atlassian Corporation PLC in a research note on Friday. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $46.73.

Shares of Atlassian Corporation PLC (NASDAQ:TEAM) traded up 24.65% during trading on Friday, reaching $50.17. 7,226,499 shares of the company’s stock were exchanged. The company has a 50 day moving average of $36.63 and a 200 day moving average of $35.44. The stock’s market cap is $11.40 billion. Atlassian Corporation PLC has a 12-month low of $23.80 and a 12-month high of $50.88.

Atlassian Corporation PLC (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 19th. The technology company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.17. Atlassian Corporation PLC had a negative net margin of 6.86% and a negative return on equity of 1.91%. The firm had revenue of $193.80 million during the quarter, compared to analysts’ expectations of $185.78 million. During the same quarter in the previous year, the business posted $0.10 earnings per share. The business’s quarterly revenue was up 41.7% compared to the same quarter last year. Equities research analysts anticipate that Atlassian Corporation PLC will post $0.33 EPS for the current year.

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Several hedge funds have recently made changes to their positions in TEAM. Russell Investments Group Ltd. raised its holdings in 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 period. Macquarie Group Ltd. raised its holdings in 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 period. Bank of New York Mellon Corp raised its holdings 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 valued at $1,676,000 after buying an additional 480 shares during the period. BlueCrest Capital Management Ltd raised its holdings in 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, UBS Asset Management Americas Inc. raised its holdings in Atlassian Corporation PLC by 2.0% in the second quarter. UBS Asset Management Americas Inc. now owns 84,266 shares of the technology company’s stock valued at $2,964,000 after buying an additional 1,685 shares during the period. Institutional investors and hedge funds own 78.57% of the company’s stock.

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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