Morgan Stanley upgraded shares of Atlassian (NASDAQ:TEAM) from an underweight rating to an equal weight rating in a report published on Thursday morning, Benzinga reports. They currently have $145.00 target price on the technology company’s stock, up from their prior target price of $99.00.
Several other equities analysts have also recently issued reports on TEAM. Mizuho lifted their price objective on Atlassian from $120.00 to $125.00 and gave the stock a buy rating in a report on Thursday, April 11th. Zacks Investment Research cut Atlassian from a buy rating to a hold rating in a report on Wednesday, April 17th. Canaccord Genuity lifted their price objective on Atlassian from $105.00 to $125.00 and gave the stock a buy rating in a report on Friday, April 12th. They noted that the move was a valuation call. KeyCorp lifted their price objective on Atlassian from $110.00 to $121.00 and gave the stock an overweight rating in a report on Tuesday, April 2nd. Finally, Jefferies Financial Group lifted their price objective on Atlassian from $90.00 to $105.00 and gave the stock a hold rating in a report on Friday, April 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Atlassian presently has an average rating of Buy and an average price target of $118.80.
Atlassian stock opened at $129.52 on Thursday. The company has a current ratio of 3.34, a quick ratio of 3.34 and a debt-to-equity ratio of 1.22. Atlassian has a 1-year low of $60.39 and a 1-year high of $131.99. The company has a market capitalization of $13.76 billion, a P/E ratio of -1,850.29, a price-to-earnings-growth ratio of 198.75 and a beta of 1.77.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC acquired a new position in shares of Atlassian in the fourth quarter worth $25,000. Coastal Investment Advisors Inc. acquired a new position in shares of Atlassian in the first quarter worth $30,000. Winslow Evans & Crocker Inc. acquired a new position in shares of Atlassian in the first quarter worth $34,000. Meeder Asset Management Inc. acquired a new position in shares of Atlassian in the fourth quarter worth $50,000. Finally, Kwmg LLC acquired a new position in shares of Atlassian in the first quarter worth $50,000. 90.80% of the stock is owned by institutional investors.
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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