Atlassian Co. PLC (NASDAQ:TEAM) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $53.51 and last traded at $53.60, with a volume of 1283315 shares trading hands. The stock had previously closed at $52.57.

A number of research firms have recently issued reports on TEAM. Zacks Investment Research lowered shares of Atlassian from a “buy” rating to a “hold” rating in a report on Saturday, November 11th. Oppenheimer boosted their price target on shares of Atlassian to $58.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Robert W. Baird boosted their price target on shares of Atlassian from $43.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, October 20th. Summit Redstone restated a “buy” rating on shares of Atlassian in a report on Thursday, October 19th. Finally, BMO Capital Markets boosted their price target on shares of Atlassian to $51.00 and gave the company a “market perform” rating in a report on Friday, October 20th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $50.00.

The firm has a market cap of $12,550.00 and a P/E ratio of -219.04.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, October 19th. The technology company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.17. The firm had revenue of $193.80 million for the quarter, compared to analyst estimates of $185.78 million. Atlassian had a negative net margin of 7.96% and a negative return on equity of 2.11%. The company’s revenue for the quarter was up 41.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 EPS. equities analysts anticipate that Atlassian Co. PLC will post -0.13 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in TEAM. Russell Investments Group Ltd. grew its position in Atlassian by 0.8% in the second 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 in the last quarter. Bank of New York Mellon Corp grew its position in Atlassian by 173.1% in the second quarter. Bank of New York Mellon Corp now owns 152,805 shares of the technology company’s stock worth $5,375,000 after acquiring an additional 96,854 shares in the last quarter. Legal & General Group Plc grew its position in Atlassian by 36.0% in the second quarter. Legal & General Group Plc now owns 17,681 shares of the technology company’s stock worth $622,000 after acquiring an additional 4,683 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new stake in Atlassian in the second quarter worth approximately $1,323,000. Finally, Principal Financial Group Inc. grew its position in Atlassian by 5.5% in the second quarter. Principal Financial Group Inc. now owns 282,781 shares of the technology company’s stock worth $9,948,000 after acquiring an additional 14,781 shares in the last quarter. Hedge funds and other institutional investors own 80.97% of the company’s stock.

WARNING: “Atlassian (TEAM) Hits New 52-Week High at $53.51” was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this article on another publication, it was illegally stolen and republished in violation of US & international trademark and copyright law. The correct version of this article can be viewed at https://www.thecerbatgem.com/2018/01/16/atlassian-team-hits-new-52-week-high-at-53-51.html.

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.

Receive News & Ratings for Atlassian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atlassian and related companies with MarketBeat.com's FREE daily email newsletter.