Analysts Set Atlassian Co. (NASDAQ:TEAM) Price Target at $221.28

Atlassian Co. (NASDAQ:TEAM) has received a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $225.47.

A number of research analysts have weighed in on TEAM shares. Barclays raised Atlassian from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $235.00 to $275.00 in a research note on Thursday, April 11th. Oppenheimer decreased their price target on Atlassian from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Robert W. Baird dropped their price objective on shares of Atlassian from $270.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Mizuho decreased their target price on shares of Atlassian from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Finally, StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Friday, June 7th.

Insider Buying and Selling at Atlassian

In other news, CAO Gene Liu sold 199 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $184.25, for a total transaction of $36,665.75. Following the transaction, the chief accounting officer now directly owns 45,666 shares of the company’s stock, valued at $8,413,960.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Gene Liu sold 199 shares of Atlassian stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $184.25, for a total transaction of $36,665.75. Following the sale, the chief accounting officer now directly owns 45,666 shares of the company’s stock, valued at $8,413,960.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 8,241 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $195.98, for a total value of $1,615,071.18. Following the completion of the transaction, the chief executive officer now directly owns 490,065 shares of the company’s stock, valued at approximately $96,042,938.70. The disclosure for this sale can be found here. Insiders sold 280,147 shares of company stock valued at $50,166,202 over the last 90 days. 40.48% of the stock is owned by corporate insiders.

Institutional Trading of Atlassian

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Atlassian by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock valued at $3,039,287,000 after acquiring an additional 221,650 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Atlassian by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after purchasing an additional 904,138 shares in the last quarter. WCM Investment Management LLC grew its stake in Atlassian by 2.7% in the fourth quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock worth $2,325,490,000 after purchasing an additional 249,017 shares in the last quarter. Baillie Gifford & Co. increased its holdings in Atlassian by 20.7% in the fourth quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock valued at $2,094,980,000 after buying an additional 1,511,318 shares during the last quarter. Finally, Brown Advisory Inc. raised its stake in Atlassian by 7.9% during the fourth quarter. Brown Advisory Inc. now owns 3,473,105 shares of the technology company’s stock valued at $826,113,000 after buying an additional 255,653 shares in the last quarter. Institutional investors own 93.03% of the company’s stock.

Atlassian Trading Up 2.2 %

Atlassian stock opened at $176.88 on Wednesday. The stock has a 50-day moving average price of $172.25 and a 200 day moving average price of $201.44. Atlassian has a 52 week low of $152.34 and a 52 week high of $258.69. The stock has a market cap of $46.04 billion, a PE ratio of -280.76 and a beta of 0.73. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.27. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.40) earnings per share. Equities research analysts predict that Atlassian will post -0.21 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.