Analysts’ Recent Ratings Updates for Atlassian (TEAM)

A number of research firms have changed their ratings and price targets for Atlassian (NASDAQ: TEAM):

• 12/13/2024 – Atlassian had its price target raised by analysts at Mizuho from $240.00 to $285.00. They now have an “outperform” rating on the stock.
• 12/12/2024 – Atlassian is now covered by analysts at Macquarie. They set a “neutral” rating and a $290.00 price target on the stock.
• 12/12/2024 – Atlassian had its price target raised by analysts at Truist Financial Co. from $200.00 to $250.00. They now have a “hold” rating on the stock.
• 12/5/2024 – Atlassian had its price target raised by analysts at Wells Fargo & Company from $300.00 to $350.00. They now have an “overweight” rating on the stock.
• 12/5/2024 – Atlassian had its price target raised by analysts at KeyCorp from $260.00 to $315.00. They now have an “overweight” rating on the stock.
• 11/14/2024 – Atlassian had its price target raised by analysts at Jefferies Financial Group Inc. from $280.00 to $300.00. They now have a “buy” rating on the stock.
• 11/1/2024 – Atlassian had its price target raised by analysts at Scotiabank from $175.00 to $250.00. They now have a “sector perform” rating on the stock.
• 11/1/2024 – Atlassian had its price target raised by analysts at Wells Fargo & Company from $250.00 to $300.00. They now have an “overweight” rating on the stock.
• 11/1/2024 – Atlassian had its price target raised by analysts at Piper Sandler from $225.00 to $265.00. They now have an “overweight” rating on the stock.
• 11/1/2024 – Atlassian was upgraded by analysts at KeyCorp from a “sector weight” rating to an “overweight” rating. They now have a $260.00 price target on the stock.
• 11/1/2024 – Atlassian had its price target raised by analysts at Mizuho from $200.00 to $240.00. They now have an “outperform” rating on the stock.
• 11/1/2024 – Atlassian had its price target raised by analysts at Raymond James from $200.00 to $250.00. They now have an “outperform” rating on the stock.
• 11/1/2024 – Atlassian had its price target raised by analysts at Oppenheimer Holdings Inc. from $230.00 to $270.00. They now have an “outperform” rating on the stock.
• 11/1/2024 – Atlassian had its price target raised by analysts at Robert W. Baird from $175.00 to $200.00. They now have a “neutral” rating on the stock.
• 11/1/2024 – Atlassian had its price target raised by analysts at BMO Capital Markets from $177.00 to $255.00. They now have a “market perform” rating on the stock.
• 11/1/2024 – Atlassian had its price target raised by analysts at Truist Financial Co. from $160.00 to $200.00. They now have a “hold” rating on the stock.
• 11/1/2024 – Atlassian had its price target raised by analysts at Canaccord Genuity Group Inc. from $225.00 to $255.00. They now have a “buy” rating on the stock.
• 11/1/2024 – Atlassian had its price target raised by analysts at Jefferies Financial Group Inc. from $240.00 to $280.00. They now have a “buy” rating on the stock.
• 10/22/2024 – Atlassian had its price target raised by analysts at UBS Group AG from $180.00 to $205.00. They now have a “neutral” rating on the stock.

Atlassian Stock Performance

TEAM traded down $19.60 during midday trading on Wednesday, reaching $250.19. The company’s stock had a trading volume of 3,544,630 shares, compared to its average volume of 1,876,745. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $287.97. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock has a market cap of $65.16 billion, a P/E ratio of -164.60 and a beta of 0.80. The company has a fifty day simple moving average of $233.33 and a 200 day simple moving average of $188.54.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the firm posted ($0.07) earnings per share. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. Research analysts expect that Atlassian Co. will post -0.54 earnings per share for the current 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 value of $123,963.60. Following the transaction, the president now directly owns 143,966 shares in the company, valued at approximately $23,482,294.26. This trade represents a 0.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $160.14, for a total value of $1,272,792.72. Following the transaction, the director now directly owns 484,828 shares in the company, valued at $77,640,355.92. This trade represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 276,590 shares of company stock valued at $59,183,668 in the last three months. Corporate insiders own 38.55% of the company’s stock.

Hedge Funds Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Asset Dedication LLC increased its stake in Atlassian by 229.8% during 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 in the last quarter. Rothschild Investment LLC bought a new stake in shares of Atlassian during the second quarter worth $36,000. GAMMA Investing LLC raised its holdings in shares of Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares during the period. True Wealth Design LLC lifted its position in Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after acquiring an additional 231 shares in the last quarter. Finally, Reston Wealth Management LLC bought a new position in Atlassian during the 3rd quarter worth about $48,000. Institutional investors own 94.45% of the company’s stock.

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.