Atlassian (NASDAQ:TEAM) Price Target Raised to $155.00

Atlassian (NASDAQ:TEAM) had its price objective boosted by BMO Capital Markets from $150.00 to $155.00 in a research report released on Tuesday morning, The Fly reports. They currently have a market perform rating on the technology company’s stock. The analysts noted that the move was a valuation call.

TEAM has been the topic of several other reports. Zacks Investment Research cut Atlassian from a hold rating to a strong sell rating in a research report on Friday, January 17th. Cleveland Research started coverage on Atlassian in a research report on Friday, December 20th. They issued a buy rating and a $132.00 price target on the stock. Morgan Stanley raised Atlassian from an equal weight rating to an overweight rating and boosted their price target for the stock from $145.00 to $175.00 in a research report on Monday, January 13th. Needham & Company LLC reissued a hold rating on shares of Atlassian in a research report on Sunday, October 20th. Finally, SunTrust Banks started coverage on Atlassian in a research report on Wednesday, October 2nd. They issued a buy rating and a $162.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $145.00.

Atlassian stock opened at $131.32 on Tuesday. The stock’s 50 day simple moving average is $124.93 and its two-hundred day simple moving average is $129.29. The stock has a market cap of $16.20 billion, a price-to-earnings ratio of -95.16, a PEG ratio of 134.29 and a beta of 1.24. Atlassian has a fifty-two week low of $87.18 and a fifty-two week high of $149.80.

Institutional investors and hedge funds have recently modified their holdings of the company. Resources Management Corp CT ADV bought a new stake in shares of Atlassian in the 3rd quarter worth approximately $25,000. Allred Capital Management LLC bought a new position in Atlassian in the 4th quarter valued at approximately $41,000. Tower Research Capital LLC TRC lifted its position in Atlassian by 1,870.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 394 shares of the technology company’s stock valued at $52,000 after acquiring an additional 374 shares in the last quarter. Baldwin Brothers Inc. MA bought a new position in Atlassian in the 3rd quarter valued at approximately $50,000. Finally, Vigilant Capital Management LLC bought a new position in Atlassian in the 4th quarter valued at approximately $48,000. 87.03% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Atlassian (NASDAQ:TEAM)

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