Atlassian Co. (NASDAQ:TEAM) Receives $212.47 Consensus PT from Analysts

Shares of Atlassian Co. (NASDAQ:TEAM) have been given an average recommendation of “Moderate Buy” by the twenty-one analysts that are covering the firm, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $212.47.

A number of brokerages have commented on TEAM. Morgan Stanley boosted their target price on Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. UBS Group boosted their target price on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Scotiabank lowered their target price on Atlassian from $210.00 to $175.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. StockNews.com downgraded Atlassian from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Finally, Baird R W cut Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd.

Insiders Place Their Bets

In related news, CTO Rajeev Bashyam Rajan sold 199 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $146.08, for a total value of $29,069.92. Following the completion of the transaction, the chief technology officer now directly owns 128,957 shares of the company’s stock, valued at $18,838,038.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Atlassian news, CTO Rajeev Bashyam Rajan sold 199 shares of Atlassian 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 sale, the chief technology officer now owns 128,957 shares in the company, valued at $18,838,038.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $192.56, for a total transaction of $1,530,466.88. Following the sale, the chief executive officer now owns 333,816 shares in the company, valued at $64,279,608.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 230,185 shares of company stock worth $39,155,661. 40.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Atlassian

Institutional investors and hedge funds have recently made changes to their positions in the company. Hollencrest Capital Management boosted 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 valued at $29,000 after purchasing an additional 119 shares in the last quarter. Asset Dedication LLC boosted 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 valued at $27,000 after purchasing an additional 108 shares in the last quarter. Trust Co. of Vermont boosted 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 valued at $32,000 after purchasing an additional 174 shares in the last quarter. Rothschild Investment LLC acquired a new stake in shares of Atlassian in the 2nd quarter valued at $36,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Atlassian in the 1st quarter valued at $40,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Atlassian Stock Performance

Shares of TEAM stock opened at $188.54 on Tuesday. Atlassian has a 1-year low of $135.29 and a 1-year high of $258.69. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $49.08 billion, a price-to-earnings ratio of -302.17 and a beta of 0.73. The stock’s fifty day simple moving average is $171.36 and its 200-day simple moving average is $171.12.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the company posted ($0.21) earnings per share. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. On average, sell-side analysts predict 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.