Atlassian Co. PLC (NASDAQ:TEAM) has been assigned a consensus rating of “Buy” from the sixteen ratings firms that are currently covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $48.44.

A number of brokerages have issued reports on TEAM. KeyCorp reaffirmed a “sector weight” rating on shares of Atlassian in a research report on Monday, September 18th. Summit Redstone reaffirmed a “buy” rating on shares of Atlassian in a research report on Thursday, October 19th. BTIG Research reaffirmed a “neutral” rating on shares of Atlassian in a research report on Tuesday, August 15th. Canaccord Genuity reaffirmed a “buy” rating and issued a $52.00 price objective (up from $44.00) on shares of Atlassian in a research report on Friday, October 20th. Finally, JMP Securities boosted their target price on shares of Atlassian from $41.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday, October 20th.

Shares of Atlassian (NASDAQ TEAM) opened at $46.59 on Thursday. Atlassian has a 52-week low of $23.80 and a 52-week high of $53.45.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 19th. The technology company reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.17. Atlassian had a negative net margin of 7.96% and a negative return on equity of 2.11%. The business had revenue of $193.80 million during the quarter, compared to the consensus estimate of $185.78 million. During the same period in the prior year, the firm posted $0.10 EPS. The firm’s quarterly revenue was up 41.7% compared to the same quarter last year. research analysts predict that Atlassian will post -0.13 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its stake in shares of Atlassian by 0.8% during the 2nd 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 in the last quarter. Macquarie Group Ltd. lifted its stake in shares of Atlassian by 0.8% during the 2nd 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 in the last quarter. BlueCrest Capital Management Ltd lifted its stake in shares of Atlassian by 10.0% during the 2nd 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 in the last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of Atlassian by 2.0% during the 2nd 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 in the last quarter. Finally, AHL Partners LLP lifted its stake in shares of Atlassian by 1.9% during the 2nd quarter. AHL Partners LLP now owns 106,616 shares of the technology company’s stock valued at $3,751,000 after buying an additional 1,964 shares in the last quarter. Institutional investors own 80.99% of the company’s stock.

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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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