Atlassian Corporation PLC’s (TEAM) “Buy” Rating Reiterated at Robert W. Baird

Robert W. Baird restated their buy rating on shares of Atlassian Corporation PLC (NASDAQ:TEAM) in a research note issued to investors on Thursday morning. They currently have a $43.00 price objective on the technology company’s stock.

A number of other research analysts have also recently weighed in on the stock. Oppenheimer Holdings, Inc. reissued a buy rating on shares of Atlassian Corporation PLC in a research note on Friday, September 8th. BTIG Research reissued a neutral rating on shares of Atlassian Corporation PLC in a research note on Tuesday, August 15th. Zacks Investment Research cut shares of Atlassian Corporation PLC from a strong-buy rating to a hold rating in a research note on Thursday, August 3rd. Cowen and Company reissued a buy rating and set a $43.00 price objective on shares of Atlassian Corporation PLC in a research note on Friday, July 28th. Finally, BMO Capital Markets reissued a market perform rating and set a $42.00 price objective (up from $40.00) on shares of Atlassian Corporation PLC in a research note on Wednesday, July 26th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $40.50.

Atlassian Corporation PLC (TEAM) opened at 36.15 on Thursday. Atlassian Corporation PLC has a one year low of $23.80 and a one year high of $39.25. The firm’s market capitalization is $8.16 billion. The stock’s 50 day moving average price is $35.43 and its 200 day moving average price is $34.02.

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Several institutional investors and hedge funds have recently modified their holdings of TEAM. Janus Henderson Group PLC purchased a new position in shares of Atlassian Corporation PLC during the 2nd quarter worth approximately $251,088,000. Wellington Management Group LLP grew its stake in Atlassian Corporation PLC by 1,316.3% in the 1st quarter. Wellington Management Group LLP now owns 4,188,567 shares of the technology company’s stock worth $125,448,000 after acquiring an additional 3,892,824 shares during the period. FMR LLC grew its stake in Atlassian Corporation PLC by 148.8% in the 2nd quarter. FMR LLC now owns 5,448,713 shares of the technology company’s stock worth $191,686,000 after acquiring an additional 3,258,877 shares during the period. Artisan Partners Limited Partnership grew its stake in Atlassian Corporation PLC by 16.8% in the 1st quarter. Artisan Partners Limited Partnership now owns 6,017,450 shares of the technology company’s stock worth $180,223,000 after acquiring an additional 866,132 shares during the period. Finally, Baillie Gifford & Co. grew its stake in Atlassian Corporation PLC by 6.8% in the 1st quarter. Baillie Gifford & Co. now owns 10,793,259 shares of the technology company’s stock worth $323,259,000 after acquiring an additional 682,668 shares during the period. 78.57% of the stock is owned by institutional investors and hedge funds.

About Atlassian Corporation PLC

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 Corporation PLC (NASDAQ:TEAM)

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