Cantor Fitzgerald Boosts Atlassian (NASDAQ:TEAM) Price Target to $304.00

Atlassian (NASDAQ:TEAM) had its target price raised by stock analysts at Cantor Fitzgerald from $264.00 to $304.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Cantor Fitzgerald’s price target suggests a potential downside of 0.91% from the stock’s previous close.

A number of other research analysts also recently commented on TEAM. KeyCorp increased their target price on Atlassian from $260.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Robert W. Baird increased their target price on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Truist Financial upgraded Atlassian from a “hold” rating to a “buy” rating and raised their price target for the company from $250.00 to $300.00 in a research note on Tuesday, January 7th. Mizuho raised their price target on Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Oppenheimer lifted their target price on Atlassian from $270.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Nine research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus price target of $307.00.

Atlassian Trading Up 14.9 %

Atlassian stock opened at $306.78 on Friday. The firm has a 50 day moving average of $260.51 and a 200 day moving average of $208.24. The firm has a market capitalization of $79.89 billion, a price-to-earnings ratio of -201.83 and a beta of 0.83. Atlassian has a 12-month low of $135.29 and a 12-month high of $324.37. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. As a group, research analysts predict that Atlassian will post -0.55 earnings per share for the current year.

Insider Buying and Selling

In other news, President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the sale, the president now directly owns 210,471 shares in the company, valued at $54,690,889.35. The trade was a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $270.63, for a total value of $2,150,967.24. Following the completion of the sale, the director now owns 333,816 shares of the company’s stock, valued at $90,340,624.08. This trade represents a 2.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 257,156 shares of company stock valued at $65,313,573 over the last quarter. 38.55% of the stock is currently owned by company insiders.

Institutional Trading of Atlassian

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC increased its position in shares of Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after buying an additional 96 shares in the last quarter. True Wealth Design LLC increased its position in shares of Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after purchasing an additional 231 shares in the last quarter. Avion Wealth increased its position in shares of Atlassian by 1,308.3% during the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after purchasing an additional 157 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in shares of Atlassian during the third quarter worth approximately $48,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Atlassian during the fourth quarter worth approximately $56,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Company Profile

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.