BidaskClub upgraded shares of Atlassian (NASDAQ:TEAM) from a buy rating to a strong-buy rating in a research note released on Saturday.
Other equities research analysts have also recently issued research reports about the company. Cowen reiterated a buy rating and issued a $90.00 price objective on shares of Atlassian in a research note on Friday, July 27th. DA Davidson increased their price objective on Atlassian to $88.00 and gave the company a buy rating in a research note on Friday, July 27th. Canaccord Genuity reaffirmed a buy rating and set a $85.00 price objective (up previously from $65.00) on shares of Atlassian in a research note on Friday, July 27th. Zacks Investment Research raised Atlassian from a hold rating to a buy rating and set a $97.00 price objective on the stock in a research note on Saturday, September 8th. Finally, Morgan Stanley lowered Atlassian from an overweight rating to an equal weight rating and increased their price objective for the company from $75.00 to $94.00 in a research note on Thursday, October 4th. They noted that the move was a valuation call. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $82.91.
NASDAQ TEAM traded down $0.27 on Friday, reaching $76.48. The stock had a trading volume of 1,122,581 shares, compared to its average volume of 2,309,310. The company has a current ratio of 4.17, a quick ratio of 4.17 and a debt-to-equity ratio of 1.16. Atlassian has a 12-month low of $43.11 and a 12-month high of $98.21. The stock has a market cap of $8.12 billion, a P/E ratio of -1,092.57, a P/E/G ratio of 64.38 and a beta of 2.73.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC lifted its position in Atlassian by 3,345.2% during the third quarter. Advisory Services Network LLC now owns 4,651 shares of the technology company’s stock worth $447,000 after buying an additional 4,516 shares during the period. Smith Asset Management Group LP purchased a new position in Atlassian during the third quarter worth about $10,410,000. Private Advisor Group LLC purchased a new position in Atlassian during the third quarter worth about $282,000. Chicago Equity Partners LLC purchased a new position in Atlassian during the third quarter worth about $858,000. Finally, State Board of Administration of Florida Retirement System lifted its position in Atlassian by 4.1% during the third quarter. State Board of Administration of Florida Retirement System now owns 110,511 shares of the technology company’s stock worth $10,625,000 after buying an additional 4,363 shares during the period. Hedge funds and other institutional investors own 92.29% of the company’s stock.
Atlassian Company Profile
Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. It provides project tracking, content creation and sharing, and service management products. 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; and Trello, a Web-based project management application for capturing and adding structure to fluid, fast-forming work for teams.
Recommended Story: Preferred Stock
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.