Canaccord Genuity restated their buy rating on shares of Atlassian (NASDAQ:TEAM) in a research report sent to investors on Wednesday, The Fly reports. Canaccord Genuity currently has a $60.00 target price on the technology company’s stock, up from their prior target price of $52.00.
Several other research analysts have also recently commented on the company. Oppenheimer raised their target price on Atlassian to $58.00 and gave the stock an outperform rating in a research report on Thursday, January 4th. Zacks Investment Research cut Atlassian from a buy rating to a hold rating in a research report on Saturday, November 11th. Summit Redstone reaffirmed a buy rating on shares of Atlassian in a research report on Thursday, October 19th. Robert W. Baird raised their target price on Atlassian from $43.00 to $50.00 and gave the stock an outperform rating in a research report on Friday, October 20th. Finally, BMO Capital Markets raised their target price on Atlassian to $51.00 and gave the stock a market perform rating in a research report on Friday, October 20th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Atlassian has an average rating of Buy and an average target price of $50.80.
Shares of Atlassian (NASDAQ TEAM) traded up $0.73 during mid-day trading on Wednesday, reaching $55.60. The company had a trading volume of 2,246,876 shares, compared to its average volume of 925,193. The company has a market capitalization of $12,800.00 and a PE ratio of -231.67. Atlassian has a 52-week low of $26.62 and a 52-week high of $55.91.
Institutional investors have recently added to or reduced their stakes in the business. Thompson Davis & CO. Inc. raised its stake in Atlassian by 431.8% during the third quarter. Thompson Davis & CO. Inc. now owns 2,925 shares of the technology company’s stock worth $103,000 after acquiring an additional 2,375 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Atlassian by 895.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,166 shares of the technology company’s stock worth $111,000 after acquiring an additional 2,848 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Atlassian by 0.8% during 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. California Public Employees Retirement System acquired a new position in Atlassian during the third quarter worth $207,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in Atlassian during the third quarter worth $232,000. Hedge funds and other institutional investors own 80.97% of the company’s stock.
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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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