Atlassian Co. PLC (TEAM) Given Average Recommendation of “Buy” by Brokerages

Shares of Atlassian Co. PLC (NASDAQ:TEAM) have been assigned an average rating of “Buy” from the seventeen brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $55.89.

Several equities analysts have commented on the stock. Jefferies Group raised their price target on shares of Atlassian to $64.00 and gave the company a “buy” rating in a research report on Friday, January 19th. BMO Capital Markets reissued a “market perform” rating and issued a $56.00 price target (up previously from $51.00) on shares of Atlassian in a research report on Friday, January 19th. They noted that the move was a valuation call. Morgan Stanley set a $63.00 price target on shares of Atlassian and gave the company a “buy” rating in a research report on Friday, January 19th. BidaskClub raised shares of Atlassian from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 18th. Finally, Zacks Investment Research cut shares of Atlassian from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th.

Atlassian (NASDAQ TEAM) opened at $51.22 on Tuesday. Atlassian has a 1 year low of $28.25 and a 1 year high of $55.91. The company has a market cap of $11,900.00 and a P/E ratio of -100.43.

Several institutional investors have recently added to or reduced their stakes in TEAM. Thompson Davis & CO. Inc. lifted its position in shares of Atlassian by 431.8% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 2,925 shares of the technology company’s stock worth $103,000 after purchasing an additional 2,375 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of Atlassian during the 4th quarter worth $116,000. Nelson Roberts Investment Advisors LLC purchased a new stake in shares of Atlassian during the 4th quarter worth $123,000. Public Employees Retirement Association of Colorado lifted its position in shares of Atlassian by 50.7% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 3,464 shares of the technology company’s stock worth $158,000 after purchasing an additional 1,165 shares during the last quarter. Finally, SeaCrest Wealth Management LLC purchased a new stake in shares of Atlassian during the 4th quarter worth $201,000. 80.41% of the stock is owned by institutional investors and hedge funds.

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About Atlassian

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 (NASDAQ:TEAM)

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