Analysts Set Atlassian Co. (NASDAQ:TEAM) Price Target at $266.10

Atlassian Co. (NASDAQ:TEAM) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-three ratings firms that are covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $266.10.

A number of brokerages recently commented on TEAM. Raymond James lifted their target price on shares of Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. KeyCorp lifted their price objective on Atlassian from $260.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Piper Sandler increased their target price on Atlassian from $265.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, January 6th. BMO Capital Markets raised Atlassian from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $255.00 to $292.00 in a research note on Friday, January 10th. Finally, Oppenheimer increased their price objective on Atlassian from $270.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, January 6th.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $236.89, for a total value of $1,882,801.72. Following the completion of the transaction, the chief executive officer now owns 421,244 shares of the company’s stock, valued at $99,788,491.16. The trade was a 1.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $188.79, for a total transaction of $143,480.40. Following the completion of the transaction, the president now owns 228,996 shares in the company, valued at approximately $43,232,154.84. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 271,428 shares of company stock worth $65,082,922. Corporate insiders own 38.55% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TEAM. 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 valued at $37,000 after acquiring an additional 231 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after purchasing an additional 96 shares in the last quarter. Reston Wealth Management LLC purchased a new position in shares of Atlassian in the third quarter worth $48,000. Quarry LP lifted its holdings in shares of Atlassian by 143.8% during the second quarter. Quarry LP now owns 373 shares of the technology company’s stock valued at $66,000 after purchasing an additional 220 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Atlassian by 23.2% during the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after buying an additional 82 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Atlassian Stock Up 4.3 %

TEAM opened at $246.40 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The business’s fifty day simple moving average is $255.17 and its 200 day simple moving average is $200.72. Atlassian has a 52 week low of $135.29 and a 52 week high of $287.97. The stock has a market cap of $64.17 billion, a PE ratio of -162.10 and a beta of 0.83.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the firm posted ($0.07) EPS. Atlassian’s revenue for the quarter was up 21.5% compared to the same quarter last year. As a group, research analysts expect that Atlassian will post -0.54 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.