Atlassian (TEAM) PT Raised to $105.00
Atlassian (NASDAQ:TEAM) had its target price lifted by Cowen from $95.00 to $105.00 in a research report report published on Thursday morning, The Fly reports. The brokerage currently has an outperform rating on the technology company’s stock.
Several other research analysts have also issued reports on the company. Zacks Investment Research raised Atlassian from a hold rating to a buy rating and set a $97.00 target price for the company in a research report on Saturday, September 8th. Summit Insights lowered Atlassian from a buy rating to a hold rating in a research report on Friday, September 7th. DA Davidson increased their target price on Atlassian from $88.00 to $108.00 and gave the stock a buy rating in a research report on Wednesday, September 5th. Jefferies Financial Group increased their target price on Atlassian to $83.00 and gave the stock a hold rating in a research report on Tuesday, September 4th. Finally, Canaccord Genuity reissued a buy rating and issued a $100.00 target price on shares of Atlassian in a research report on Tuesday, September 4th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $77.83.
Shares of NASDAQ:TEAM opened at $94.18 on Thursday. Atlassian has a 52-week low of $33.61 and a 52-week high of $95.00. The company has a debt-to-equity ratio of 0.92, a quick ratio of 3.95 and a current ratio of 3.95.
A number of hedge funds have recently bought and sold shares of TEAM. Wells Fargo & Company MN increased its position in Atlassian by 37.3% during the 1st quarter. Wells Fargo & Company MN now owns 112,291 shares of the technology company’s stock valued at $6,055,000 after buying an additional 30,513 shares in the last quarter. Rhumbline Advisers increased its position in Atlassian by 1.5% during the 1st quarter. Rhumbline Advisers now owns 89,496 shares of the technology company’s stock valued at $4,826,000 after buying an additional 1,306 shares in the last quarter. Comerica Bank bought a new position in Atlassian during the 1st quarter valued at approximately $210,000. DekaBank Deutsche Girozentrale bought a new position in Atlassian during the 1st quarter valued at approximately $569,000. Finally, State Board of Administration of Florida Retirement System increased its position in Atlassian by 46.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 96,948 shares of the technology company’s stock valued at $5,227,000 after buying an additional 30,615 shares in the last quarter. 92.71% of the stock is owned by institutional investors.
Atlassian Company Profile
Atlassian Corporation Plc, through its subsidiaries, provides team collaboration and productivity software solutions worldwide. It offers project tracking, content creation and sharing, real-time communication, and service management products to large and small organizations. The company's products include JIRA, a workflow management system that enables teams to plan, organize, track, and manage their work and projects; Confluence, a content collaboration platform that is used to create, share, organize, and discuss projects; HipChat that provides teams a way to communicate in real-time and share ideas, updates, codes, and files; Trello, a Web-based project management application for capturing and adding structure to fluid and fast-forming work for teams; Bitbucket, a code management and collaboration product for teams using distributed version control systems; and JIRA Service Desk, a service desk product for creating and managing service experiences for various service team providers, including IT help desks, and legal and HR teams.
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