Zacks Investment Research upgraded shares of Atlassian Corporation PLC (NASDAQ:TEAM) from a hold rating to a buy rating in a research report report published on Friday. The firm currently has $41.00 price target on the technology company’s stock.

According to Zacks, “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. It offers tools for software developers consists of FishEye, Bamboo and SourceTree. Atlassian Corporation Plc is headquartered in Sydney, Australia. “

A number of other equities analysts have also recently issued reports on TEAM. William Blair reiterated an outperform rating on shares of Atlassian Corporation PLC in a research note on Wednesday, March 22nd. Guggenheim initiated coverage on shares of Atlassian Corporation PLC in a research note on Wednesday, April 12th. They issued a neutral rating on the stock. They noted that the move was a valuation call. Raymond James Financial, Inc. reiterated a market perform rating on shares of Atlassian Corporation PLC in a research note on Thursday, April 20th. BMO Capital Markets reiterated a hold rating and issued a $29.00 price target on shares of Atlassian Corporation PLC in a research note on Friday, April 21st. Finally, BTIG Research reiterated a neutral rating on shares of Atlassian Corporation PLC in a research note on Monday, April 24th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Atlassian Corporation PLC presently has a consensus rating of Buy and a consensus price target of $36.09.

Shares of Atlassian Corporation PLC (TEAM) remained flat at $35.65 during mid-day trading on Friday. 214,893 shares of the stock traded hands. The company has a 50-day moving average of $35.76 and a 200-day moving average of $30.69. Atlassian Corporation PLC has a 12 month low of $23.80 and a 12 month high of $37.90. The company’s market cap is $8.04 billion.

Atlassian Corporation PLC (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, April 27th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.05. The company had revenue of $159.90 million for the quarter, compared to analysts’ expectations of $156.64 million. Atlassian Corporation PLC had a negative net margin of 4.62% and a negative return on equity of 1.74%. Atlassian Corporation PLC’s revenue was up 35.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.07 EPS. On average, equities research analysts expect that Atlassian Corporation PLC will post $0.33 earnings per share for the current fiscal year.

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A number of institutional investors have recently bought and sold shares of TEAM. CenturyLink Investment Management Co bought a new position in Atlassian Corporation PLC during the second quarter valued at about $1,530,000. Bank of Montreal Can boosted its position in Atlassian Corporation PLC by 34,198.2% in the second quarter. Bank of Montreal Can now owns 18,864 shares of the technology company’s stock valued at $664,000 after buying an additional 18,809 shares in the last quarter. Clearbridge Investments LLC boosted its position in Atlassian Corporation PLC by 17.2% in the first quarter. Clearbridge Investments LLC now owns 483,826 shares of the technology company’s stock valued at $14,491,000 after buying an additional 70,974 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Atlassian Corporation PLC by 575.6% in the first quarter. Goldman Sachs Group Inc. now owns 213,407 shares of the technology company’s stock valued at $6,391,000 after buying an additional 181,819 shares in the last quarter. Finally, Janus Capital Management LLC boosted its position in Atlassian Corporation PLC by 2.8% in the first quarter. Janus Capital Management LLC now owns 7,110,873 shares of the technology company’s stock valued at $212,971,000 after buying an additional 191,710 shares in the last quarter. Institutional investors and hedge funds own 81.62% 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.

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Analyst Recommendations for Atlassian Corporation PLC (NASDAQ:TEAM)

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