Morgan Stanley upgraded shares of Atlassian (NASDAQ:TEAM) from an equal weight rating to an overweight rating in a research report sent to investors on Monday morning, BenzingaRatingsTable reports. They currently have $175.00 target price on the technology company’s stock, up from their prior target price of $145.00.

A number of other equities research analysts also recently issued reports on the stock. ValuEngine downgraded shares of Atlassian from a buy rating to a hold rating in a report on Wednesday, October 2nd. BMO Capital Markets set a $150.00 target price on shares of Atlassian and gave the company a hold rating in a research note on Friday, October 18th. BidaskClub raised shares of Atlassian from a hold rating to a buy rating in a research note on Saturday. Cleveland Research began coverage on shares of Atlassian in a research note on Friday, December 20th. They issued a buy rating and a $132.00 target price on the stock. Finally, Cowen reaffirmed a buy rating on shares of Atlassian in a research note on Friday, October 18th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has an average rating of Buy and an average target price of $142.65.

TEAM traded down $0.72 during trading on Monday, reaching $135.35. 8,226 shares of the company’s stock were exchanged, compared to its average volume of 1,174,467. The stock has a market capitalization of $16.33 billion, a PE ratio of -795.47, a price-to-earnings-growth ratio of 130.61 and a beta of 1.24. Atlassian has a one year low of $87.18 and a one year high of $149.80. The firm has a fifty day moving average price of $123.87 and a two-hundred day moving average price of $129.19.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, October 17th. The technology company reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.04. The company had revenue of $363.40 million for the quarter, compared to the consensus estimate of $351.79 million. Atlassian had a negative net margin of 24.95% and a negative return on equity of 2.76%. Atlassian’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.20 EPS. As a group, equities research analysts anticipate that Atlassian will post 0.05 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Roman Butler Fullerton & Co. grew its position in shares of Atlassian by 2.5% during the 3rd quarter. Roman Butler Fullerton & Co. now owns 5,010 shares of the technology company’s stock worth $628,000 after buying an additional 120 shares in the last quarter. IBM Retirement Fund raised its stake in Atlassian by 7.8% in the fourth quarter. IBM Retirement Fund now owns 1,733 shares of the technology company’s stock valued at $209,000 after buying an additional 125 shares during the last quarter. Comerica Bank raised its stake in Atlassian by 3.9% in the third quarter. Comerica Bank now owns 3,408 shares of the technology company’s stock valued at $386,000 after buying an additional 129 shares during the last quarter. Delta Investment Management LLC raised its stake in Atlassian by 0.8% in the third quarter. Delta Investment Management LLC now owns 17,870 shares of the technology company’s stock valued at $2,241,000 after buying an additional 141 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in Atlassian by 7.9% in the second quarter. Prudential Financial Inc. now owns 2,720 shares of the technology company’s stock valued at $356,000 after buying an additional 200 shares during the last quarter. Institutional investors own 87.04% of the company’s stock.

About Atlassian

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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Analyst Recommendations for Atlassian (NASDAQ:TEAM)

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