Atlassian (TEAM) to Release Quarterly Earnings on Thursday

Atlassian (NASDAQ:TEAM) will be posting its quarterly earnings results after the market closes on Thursday, August 1st. Analysts expect Atlassian to post earnings of $0.59 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Atlassian Trading Down 2.1 %

Atlassian stock opened at $174.38 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.82. The firm has a 50-day moving average price of $170.08 and a two-hundred day moving average price of $192.67. The firm has a market capitalization of $45.39 billion, a price-to-earnings ratio of -276.79 and a beta of 0.74. Atlassian has a 52-week low of $152.34 and a 52-week high of $258.69.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. Capital One Financial upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target on the stock in a research report on Thursday, July 11th. Robert W. Baird dropped their price target on shares of Atlassian from $270.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. StockNews.com downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Finally, Barclays upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $235.00 to $275.00 in a research report on Thursday, April 11th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and an average price target of $228.81.

Insider Activity

In related news, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $183.51, for a total transaction of $1,512,305.91. Following the transaction, the chief executive officer now directly owns 308,763 shares of the company’s stock, valued at $56,661,098.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $183.51, for a total transaction of $1,512,305.91. Following the transaction, the chief executive officer now directly owns 308,763 shares of the company’s stock, valued at $56,661,098.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Rajeev Bashyam Rajan sold 1,360 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $184.26, for a total transaction of $250,593.60. Following the transaction, the chief technology officer now directly owns 134,260 shares in the company, valued at $24,738,747.60. The disclosure for this sale can be found here. Insiders have sold 275,578 shares of company stock worth $47,797,007 over the last 90 days. 40.48% of the stock is owned by company insiders.

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.