Morgan Stanley Reiterates $145.00 Price Target for Atlassian (NASDAQ:TEAM)
Morgan Stanley set a $145.00 price objective on Atlassian (NASDAQ:TEAM) in a report released on Friday morning, TipRanks reports. The firm currently has a hold rating on the technology company’s stock.
Other research analysts have also issued reports about the stock. SunTrust Banks began coverage on shares of Atlassian in a report on Wednesday, October 2nd. They issued a buy rating and a $162.00 target price on the stock. BidaskClub lowered shares of Atlassian from a buy rating to a hold rating in a report on Saturday. Cowen set a $152.00 target price on shares of Atlassian and gave the company a buy rating in a report on Friday, July 26th. Robert W. Baird upped their target price on shares of Atlassian from $120.00 to $150.00 and gave the company an outperform rating in a report on Friday, July 26th. Finally, TheStreet downgraded shares of Atlassian from a c- rating to a d rating in a research note on Thursday, July 25th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $141.44.
Atlassian stock opened at $116.86 on Friday. Atlassian has a 52 week low of $65.17 and a 52 week high of $149.80. The firm’s 50-day simple moving average is $129.09 and its 200 day simple moving average is $128.40. The firm has a market capitalization of $14.49 billion, a PE ratio of -687.41, a P/E/G ratio of 88.84 and a beta of 1.31.
A number of hedge funds and other institutional investors have recently modified their holdings of TEAM. Creative Financial Designs Inc. ADV acquired a new stake in shares of Atlassian during the 2nd quarter worth approximately $26,000. Captrust Financial Advisors boosted its stake in Atlassian by 233.3% in the second quarter. Captrust Financial Advisors now owns 300 shares of the technology company’s stock worth $39,000 after purchasing an additional 210 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Atlassian in the second quarter worth $41,000. CWM LLC acquired a new position in Atlassian in the second quarter worth $43,000. Finally, Baldwin Brothers Inc. MA acquired a new position in Atlassian in the third quarter worth $50,000. 87.18% of the stock is currently 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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