Atlassian (NASDAQ:TEAM) Given New $250.00 Price Target at Raymond James

Atlassian (NASDAQ:TEAM) had its price objective upped by research analysts at Raymond James from $200.00 to $250.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Raymond James’ target price would suggest a potential upside of 11.43% from the company’s previous close.

Several other brokerages also recently commented on TEAM. Capital One Financial upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 target price on the stock in a report on Thursday, July 11th. Barclays cut their price objective on Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Jefferies Financial Group raised their target price on Atlassian from $240.00 to $280.00 and gave the company a “buy” rating in a report on Friday. KeyCorp upgraded Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price target for the company in a report on Friday. Finally, Scotiabank raised their price objective on shares of Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a research note on Friday. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and a consensus target price of $243.16.

Atlassian Stock Performance

TEAM opened at $224.35 on Friday. The stock has a 50-day moving average of $173.30 and a 200-day moving average of $171.30. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian has a 52-week low of $135.29 and a 52-week high of $258.69. The company has a market cap of $58.34 billion, a PE ratio of -147.60 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.59 by $0.07. Atlassian had a negative return on equity of 23.38% and a negative net margin of 8.59%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the company posted ($0.21) earnings per share. The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. As a group, equities research analysts forecast that Atlassian will post -0.58 earnings per share for the current fiscal year.

Insider Activity at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the transaction, the president now directly owns 143,966 shares in the company, valued at $23,482,294.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $163.11, for a total transaction of $123,963.60. Following the sale, the president now directly owns 143,966 shares of the company’s stock, valued at approximately $23,482,294.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $140.54, for a total transaction of $1,117,011.92. Following the completion of the transaction, the chief executive officer now owns 294,076 shares of the company’s stock, valued at $41,329,441.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 230,185 shares of company stock valued at $39,155,661 in the last 90 days. 38.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Atlassian

A number of hedge funds have recently added to or reduced their stakes in the stock. Hollencrest Capital Management lifted its position in shares of Atlassian by 383.9% during the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after purchasing an additional 119 shares in the last quarter. Asset Dedication LLC raised its position in 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 purchasing an additional 108 shares during the last quarter. Trust Co. of Vermont boosted its position in 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 buying an additional 174 shares during 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. bought a new stake in shares of Atlassian during the first quarter worth $40,000. Institutional investors own 93.03% of the company’s stock.

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.