Atlassian (NASDAQ:TEAM) Given a $63.00 Price Target by Morgan Stanley Analysts

Morgan Stanley set a $63.00 price objective on Atlassian (NASDAQ:TEAM) in a research report sent to investors on Friday, January 19th. The firm currently has a buy rating on the technology company’s stock.

A number of other analysts also recently issued reports on the company. Zacks Investment Research downgraded Atlassian from a buy rating to a hold rating in a research report on Saturday, November 11th. Cowen restated an outperform rating and issued a $55.00 target price (up previously from $47.00) on shares of Atlassian in a research report on Friday, October 20th. JMP Securities boosted their target price on Atlassian from $41.00 to $47.00 and gave the stock an outperform rating in a research report on Friday, October 20th. Robert W. Baird boosted 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, Oppenheimer boosted their target price on Atlassian to $58.00 and gave the stock an outperform rating in a research report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Atlassian currently has an average rating of Buy and an average target price of $55.90.

Shares of Atlassian (NASDAQ:TEAM) traded up $0.29 on Friday, hitting $52.09. The stock had a trading volume of 663,603 shares, compared to its average volume of 1,147,305. The company has a market cap of $12,100.00 and a P/E ratio of -102.14. Atlassian has a 12-month low of $28.25 and a 12-month high of $55.91.

Institutional investors have recently added to or reduced their stakes in the business. Thompson Davis & CO. Inc. boosted its holdings in Atlassian by 431.8% in 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 boosted its holdings in Atlassian by 895.6% in 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. Nelson Roberts Investment Advisors LLC bought a new stake in Atlassian in the fourth quarter worth $123,000. Public Employees Retirement Association of Colorado boosted its holdings in Atlassian by 50.7% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 3,464 shares of the technology company’s stock worth $158,000 after acquiring an additional 1,165 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Atlassian by 0.8% in 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. 80.41% of the stock is currently owned by institutional investors and hedge funds.

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About Atlassian

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.

Analyst Recommendations for Atlassian (NASDAQ:TEAM)

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