Atlassian Co. (NASDAQ:TEAM) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Atlassian Co. (NASDAQ:TEAM) have received a consensus recommendation of “Moderate Buy” from the twenty-one analysts that are presently covering the stock, MarketBeat reports. Nine investment analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $216.65.

TEAM has been the topic of several analyst reports. Raymond James upgraded Atlassian from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a report on Tuesday. Truist Financial dropped their price objective on Atlassian from $200.00 to $160.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Wells Fargo & Company lowered their price target on Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Baird R W downgraded Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Oppenheimer reiterated an “outperform” rating and issued a $230.00 price target on shares of Atlassian in a report on Monday, September 23rd.

Atlassian Stock Performance

Atlassian stock opened at $160.44 on Friday. 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 one year low of $135.29 and a one year high of $258.69. The stock’s 50 day moving average price is $159.20 and its 200 day moving average price is $172.81. The firm has a market capitalization of $41.72 billion, a PE ratio of -254.67 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the business earned ($0.21) EPS. Atlassian’s revenue for the quarter was up 20.5% compared to the same quarter last year. As a group, sell-side analysts expect that Atlassian will post -0.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $182.56, for a total transaction of $1,450,986.88. Following the completion of the transaction, the chief executive officer now owns 468,932 shares in the company, valued at approximately $85,608,225.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $182.56, for a total value of $1,450,986.88. Following the completion of the sale, the chief executive officer now owns 468,932 shares in the company, valued at $85,608,225.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Anutthara Bharadwaj sold 760 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $163.11, for a total value of $123,963.60. Following the completion of the sale, the president now owns 143,966 shares of the company’s stock, valued at approximately $23,482,294.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 224,263 shares of company stock worth $37,043,467. 40.48% of the stock is owned by company insiders.

Institutional Trading of Atlassian

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Atlassian by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock valued at $3,652,495,000 after buying an additional 504,181 shares during the period. Diversified Trust Co raised its position in shares of Atlassian by 27.6% during the first quarter. Diversified Trust Co now owns 14,036 shares of the technology company’s stock worth $2,739,000 after purchasing an additional 3,035 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Atlassian by 7.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,087 shares of the technology company’s stock worth $27,723,000 after purchasing an additional 10,434 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of Atlassian by 2.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 175,350 shares of the technology company’s stock worth $34,213,000 after purchasing an additional 3,687 shares during the period. Finally, Alta Park Capital LP raised its position in shares of Atlassian by 66.7% during the fourth quarter. Alta Park Capital LP now owns 69,700 shares of the technology company’s stock worth $16,579,000 after purchasing an additional 27,900 shares during the period. Institutional investors and hedge funds 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.