Atlassian (NASDAQ:TEAM) Price Target Raised to $300.00

Atlassian (NASDAQ:TEAM) had its price objective increased by Jefferies Financial Group from $280.00 to $300.00 in a report issued on Thursday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other equities research analysts have also issued reports about the company. Wells Fargo & Company boosted their target price on Atlassian from $250.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Barclays reduced their price objective on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and raised their target price for the company from $200.00 to $230.00 in a research note on Friday, August 2nd. KeyCorp raised shares of Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 target price for the company in a research report on Friday, November 1st. Finally, Piper Sandler raised their price target on Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and an average target price of $244.21.

Atlassian Stock Down 4.0 %

NASDAQ TEAM opened at $240.04 on Thursday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian has a 12-month low of $135.29 and a 12-month high of $258.69. The company has a 50 day moving average price of $187.95 and a two-hundred day moving average price of $174.58.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. Atlassian’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.07) EPS. Research analysts predict that Atlassian will post -0.56 EPS for the current year.

Insider Activity at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $244.84, for a total value of $1,945,988.32. Following the sale, the director now directly owns 270,232 shares in the company, valued at $66,163,602.88. This represents a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Anutthara Bharadwaj sold 760 shares of Atlassian 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 transaction, the president now directly owns 143,966 shares of the company’s stock, valued at approximately $23,482,294.26. The trade was a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 246,248 shares of company stock valued at $45,553,294 over the last quarter. 38.55% of the stock is owned by company insiders.

Institutional Trading of Atlassian

Hedge funds have recently modified their holdings of the company. Asset Dedication LLC grew its position 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 acquiring an additional 108 shares during the last quarter. Trust Co. of Vermont grew its holdings in shares of Atlassian by 2,175.0% during the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after purchasing an additional 174 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of Atlassian in the second quarter valued at $36,000. GAMMA Investing LLC raised its holdings in shares of Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after buying an additional 96 shares during the last quarter. Finally, True Wealth Design LLC lifted its position in Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after buying an additional 231 shares in the last quarter. Institutional investors and hedge funds own 93.03% 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.