BidaskClub upgraded shares of Atlassian (NASDAQ:TEAM) from a buy rating to a strong-buy rating in a research report report published on Thursday.

Other equities analysts have also recently issued research reports about the company. Summit Redstone reissued a buy rating on shares of Atlassian in a research note on Thursday, October 19th. Canaccord Genuity reissued a buy rating and issued a $52.00 price target (up previously from $44.00) on shares of Atlassian in a research note on Friday, October 20th. JMP Securities lifted their price target on Atlassian from $41.00 to $47.00 and gave the stock an outperform rating in a research note on Friday, October 20th. Oppenheimer lifted their price target on Atlassian to $58.00 and gave the stock an outperform rating in a research note on Thursday, January 4th. Finally, Robert W. Baird lifted their price target on Atlassian from $43.00 to $50.00 and gave the stock an outperform rating in a research note on Friday, October 20th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Atlassian has a consensus rating of Buy and a consensus target price of $55.90.

Atlassian (NASDAQ TEAM) traded down $2.53 during trading hours on Thursday, reaching $53.07. The company had a trading volume of 3,658,558 shares, compared to its average volume of 911,844. Atlassian has a 1 year low of $26.96 and a 1 year high of $55.91.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, October 19th. The technology company reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.17. The firm had revenue of $193.80 million for the quarter, compared to analysts’ expectations of $185.78 million. Atlassian had a negative return on equity of 3.97% and a negative net margin of 15.85%. Atlassian’s revenue was up 41.7% on a year-over-year basis. During the same quarter last year, the business posted $0.10 EPS. analysts anticipate that Atlassian will post -0.13 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in TEAM. Thompson Davis & CO. Inc. boosted its position in 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 acquiring an additional 2,375 shares during the period. Tower Research Capital LLC TRC boosted its position in Atlassian by 895.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,166 shares of the technology company’s stock worth $111,000 after acquiring an additional 2,848 shares during the period. Russell Investments Group Ltd. boosted its position in Atlassian by 0.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 5,549 shares of the technology company’s stock worth $196,000 after acquiring an additional 46 shares during the period. California Public Employees Retirement System acquired a new stake in Atlassian during the 3rd quarter worth about $207,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in Atlassian during the 3rd quarter worth about $232,000. Hedge funds and other institutional investors own 80.97% of the company’s stock.

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Atlassian 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 (NASDAQ:TEAM)

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