Atlassian Co. (NASDAQ:TEAM) Receives $256.50 Consensus PT from Analysts

Shares of Atlassian Co. (NASDAQ:TEAM) have been assigned an average rating of “Moderate Buy” from the twenty-three brokerages that are presently covering the firm, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $258.00.

Several research analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Mizuho lifted their price objective on shares of Atlassian from $240.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Canaccord Genuity Group lifted their price target on shares of Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research note on Friday. Raymond James lifted their price target on shares of Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Oppenheimer lifted their price target on shares of Atlassian from $230.00 to $270.00 and gave the company an “outperform” rating in a research note on Friday, November 1st.

Atlassian Stock Up 2.4 %

Atlassian stock opened at $257.26 on Wednesday. The company’s 50 day simple moving average is $237.54 and its 200 day simple moving average is $190.54. Atlassian has a fifty-two week low of $135.29 and a fifty-two week high of $287.97. The firm has a market capitalization of $67.00 billion, a price-to-earnings ratio of -169.25 and a beta of 0.80. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18.

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

Insider Buying and Selling

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $159.81, for a total transaction of $1,270,169.88. Following the transaction, the chief executive officer now directly owns 500,724 shares in the company, valued at approximately $80,020,702.44. The trade was a 1.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $188.79, for a total transaction of $143,480.40. Following 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 277,350 shares of company stock worth $60,938,938. Insiders own 38.55% of the company’s stock.

Hedge Funds Weigh In On Atlassian

Several institutional investors and hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. increased its holdings in shares of Atlassian by 61.4% in the third quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company’s stock valued at $1,710,000 after purchasing an additional 4,099 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new position in shares of Atlassian in the third quarter valued at $11,438,000. Tri Ri Asset Management Corp acquired a new position in shares of Atlassian in the third quarter valued at $2,584,000. Synovus Financial Corp boosted its position in shares of Atlassian by 26.4% in the third quarter. Synovus Financial Corp now owns 19,962 shares of the technology company’s stock valued at $3,170,000 after acquiring an additional 4,173 shares during the period. Finally, Tidal Investments LLC boosted its position in shares of Atlassian by 143.2% in the third quarter. Tidal Investments LLC now owns 12,605 shares of the technology company’s stock valued at $2,002,000 after acquiring an additional 7,422 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

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.