Atlassian Corp. PLC (NASDAQ:TEAM) has been assigned an average rating of “Buy” from the thirteen ratings firms that are presently covering the company. Five investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $34.83.

Several research firms have weighed in on TEAM. Oppenheimer Holdings Inc. set a $35.00 price objective on shares of Atlassian Corp. PLC and gave the company a “buy” rating in a research report on Friday, August 5th. Summit Redstone began coverage on shares of Atlassian Corp. PLC in a research report on Tuesday, August 16th. They issued a “buy” rating and a $35.00 price objective for the company. Morgan Stanley set a $29.00 price objective on shares of Atlassian Corp. PLC and gave the company a “hold” rating in a research report on Friday, August 5th. Jefferies Group raised their price objective on shares of Atlassian Corp. PLC from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Finally, Canaccord Genuity raised their price objective on shares of Atlassian Corp. PLC from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, August 5th.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UBS Group AG raised its position in Atlassian Corp. PLC by 1,878.9% in the first quarter. UBS Group AG now owns 79,156 shares of the company’s stock valued at $1,991,000 after buying an additional 75,156 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Atlassian Corp. PLC by 424.0% in the first quarter. Goldman Sachs Group Inc. now owns 55,729 shares of the company’s stock valued at $1,402,000 after buying an additional 45,094 shares during the last quarter. Wellington Management Group LLP raised its position in Atlassian Corp. PLC by 304.0% in the first quarter. Wellington Management Group LLP now owns 1,851,024 shares of the company’s stock valued at $46,553,000 after buying an additional 1,392,818 shares during the last quarter. Barclays PLC raised its position in Atlassian Corp. PLC by 66.8% in the first quarter. Barclays PLC now owns 13,345 shares of the company’s stock valued at $334,000 after buying an additional 5,345 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in Atlassian Corp. PLC by 189.3% in the second quarter. Acadian Asset Management LLC now owns 320,755 shares of the company’s stock valued at $8,309,000 after buying an additional 209,884 shares during the last quarter. 65.03% of the stock is currently owned by institutional investors and hedge funds.

Shares of Atlassian Corp. PLC (NASDAQ:TEAM) opened at 27.49 on Thursday. The stock’s market cap is $6.01 billion. The company has a 50 day moving average of $28.48 and a 200 day moving average of $27.19. Atlassian Corp. PLC has a 12 month low of $16.92 and a 12 month high of $35.16.

Atlassian Corp. PLC (NASDAQ:TEAM) last announced its earnings results on Thursday, October 27th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. The business earned $136.80 million during the quarter, compared to analysts’ expectations of $133.52 million. Atlassian Corp. PLC had a negative net margin of 0.68% and a positive return on equity of 0.42%. The firm’s revenue for the quarter was up 34.3% on a year-over-year basis. During the same quarter last year, the company posted $0.11 EPS. Equities research analysts expect that Atlassian Corp. PLC will post $0.34 earnings per share for the current fiscal year.

About Atlassian Corp. PLC

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.

5 Day Chart for NASDAQ:TEAM

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