Shares of Atlassian Co. PLC (NASDAQ:TEAM) hit a new 52-week high on Wednesday . The company traded as high as $57.06 and last traded at $54.26, with a volume of 1469500 shares traded. The stock had previously closed at $54.26.
TEAM has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Atlassian from a “hold” rating to a “strong-buy” rating and set a $56.00 price target for the company in a research note on Wednesday, October 25th. Oppenheimer increased their price target on shares of Atlassian to $58.00 and gave the stock an “outperform” rating in a research note on Thursday, January 4th. Canaccord Genuity reiterated a “buy” rating and set a $60.00 price target (up previously from $52.00) on shares of Atlassian in a research note on Wednesday, January 17th. BidaskClub upgraded shares of Atlassian from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 18th. Finally, Jefferies Group increased their price target on shares of Atlassian to $64.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $55.90.
The firm has a market capitalization of $5,301.66, a PE ratio of -106.39 and a beta of 2.78.
A number of institutional investors have recently made changes to their positions in the business. Sterling Capital Management LLC raised its position in Atlassian by 7.2% during the 4th quarter. Sterling Capital Management LLC now owns 125,711 shares of the technology company’s stock worth $5,722,000 after buying an additional 8,427 shares during the last quarter. Pier Capital LLC purchased a new position in Atlassian during the 4th quarter worth $340,000. Laurel Wealth Advisors Inc. purchased a new position in Atlassian during the 4th quarter worth $293,000. Verition Fund Management LLC purchased a new position in Atlassian during the 4th quarter worth $1,065,000. Finally, LPL Financial LLC purchased a new position in Atlassian during the 4th quarter worth $249,000. Institutional investors own 82.21% of the company’s stock.
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.
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