Atlassian (NASDAQ:TEAM) Stock Price Expected to Rise, Barclays Analyst Says

Atlassian (NASDAQ:TEAM) had its target price increased by equities research analysts at Barclays from $275.00 to $350.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s target price points to a potential upside of 10.50% from the stock’s current price.

A number of other analysts have also recently commented on TEAM. Robert W. Baird upped their price target on shares of Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Oppenheimer raised their target price on Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Truist Financial reissued a “buy” rating and issued a $350.00 price target (up from $300.00) on shares of Atlassian in a research note on Friday, January 31st. Wells Fargo & Company raised their price objective on shares of Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, William Blair reiterated an “outperform” rating on shares of Atlassian in a research report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $318.43.

Atlassian Price Performance

Shares of TEAM opened at $316.73 on Monday. The business has a 50-day moving average of $262.61 and a 200-day moving average of $210.38. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market capitalization of $82.49 billion, a price-to-earnings ratio of -236.36 and a beta of 0.87. Atlassian has a 1 year low of $135.29 and a 1 year high of $324.37.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 18.00% and a negative net margin of 7.22%. As a group, equities research analysts anticipate that Atlassian will post -0.55 earnings per share for the current year.

Insider Buying and Selling at Atlassian

In other news, President Anutthara Bharadwaj sold 1,659 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $245.81, for a total value of $407,798.79. Following the sale, the president now owns 213,511 shares of the company’s stock, valued at $52,483,138.91. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Gene Liu sold 779 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $320.01, for a total transaction of $249,287.79. Following the completion of the transaction, the chief accounting officer now directly owns 52,710 shares of the company’s stock, valued at approximately $16,867,727.10. This trade represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 257,935 shares of company stock worth $66,966,954 over the last three months. 38.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Atlassian

Institutional investors have recently made changes to their positions in the stock. Thrivent Financial for Lutherans purchased a new stake in shares of Atlassian in the 2nd quarter valued at about $677,000. Sanctuary Advisors LLC bought a new position in shares of Atlassian in the second quarter worth approximately $1,022,000. Handelsbanken Fonder AB raised its stake in Atlassian by 2.6% in the third quarter. Handelsbanken Fonder AB now owns 69,552 shares of the technology company’s stock valued at $11,046,000 after purchasing an additional 1,760 shares in the last quarter. GAMMA Investing LLC lifted its position in Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after purchasing an additional 96 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV grew its stake in Atlassian by 100.5% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 3,451 shares of the technology company’s stock worth $548,000 after buying an additional 1,730 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

About Atlassian

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.