Atlassian Co. (NASDAQ:TEAM) Receives $217.69 Average Price Target from Analysts

Atlassian Co. (NASDAQ:TEAM) has been given an average rating of “Moderate Buy” by the twenty ratings firms that are covering the company, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $217.69.

TEAM has been the subject of several research reports. Piper Sandler raised shares of Atlassian from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $200.00 to $225.00 in a research note on Tuesday, July 2nd. Barclays dropped their price target on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Mizuho dropped their price target on shares of Atlassian from $225.00 to $220.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. The Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and increased their price target for the company from $200.00 to $230.00 in a research note on Friday, August 2nd. Finally, JMP Securities raised shares of Atlassian to a “hold” rating in a research note on Friday, August 2nd.

Insider Activity at Atlassian

In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $186.48, for a total transaction of $1,482,143.04. Following the transaction, the chief executive officer now directly owns 476,880 shares of the company’s stock, valued at approximately $88,928,582.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Atlassian news, CTO Rajeev Bashyam Rajan sold 199 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $146.08, for a total transaction of $29,069.92. Following the transaction, the chief technology officer now directly owns 128,957 shares of the company’s stock, valued at approximately $18,838,038.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $186.48, for a total transaction of $1,482,143.04. Following the completion of the sale, the chief executive officer now owns 476,880 shares of the company’s stock, valued at approximately $88,928,582.40. The disclosure for this sale can be found here. Insiders have sold 248,107 shares of company stock valued at $41,434,043 in the last ninety days. Insiders own 40.48% of the company’s stock.

Institutional Trading of Atlassian

Hedge funds have recently made changes to their positions in the company. Asset Dedication LLC lifted its stake in shares of Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after acquiring an additional 108 shares during the period. Hollencrest Capital Management lifted its stake in shares of Atlassian by 383.9% in the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after acquiring an additional 119 shares during the period. Trust Co. of Vermont lifted its stake in shares of Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after acquiring an additional 174 shares during the period. Rothschild Investment LLC acquired a new stake in shares of Atlassian in the second quarter valued at about $36,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Atlassian in the first quarter valued at about $40,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Atlassian Stock Up 2.4 %

TEAM stock opened at $166.10 on Monday. The stock has a market capitalization of $43.19 billion, a P/E ratio of -263.65 and a beta of 0.73. The firm has a 50-day simple moving average of $164.84 and a 200-day simple moving average of $177.58. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. Atlassian has a 52 week low of $135.29 and a 52 week high of $258.69.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.07. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the company earned ($0.21) EPS. Atlassian’s revenue was up 20.5% compared to the same quarter last year. Equities analysts forecast that Atlassian will post -0.58 earnings per share for the current fiscal year.

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.