Atlassian (NASDAQ:TEAM) Earns “Outperform” Rating from Raymond James

Atlassian (NASDAQ:TEAM)‘s stock had its “outperform” rating reiterated by stock analysts at Raymond James in a research note issued to investors on Friday,Benzinga reports. They currently have a $330.00 price target on the technology company’s stock, up from their previous price target of $250.00. Raymond James’ price objective would suggest a potential upside of 6.06% from the stock’s current price.

A number of other equities research analysts have also issued reports on TEAM. Piper Sandler increased their target price on Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday. UBS Group raised their price objective on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Truist Financial restated a “buy” rating and set a $350.00 price objective (up previously from $300.00) on shares of Atlassian in a research note on Friday. Mizuho raised their price objective on Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Oppenheimer raised their price objective on Atlassian from $270.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Nine research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus target price of $297.24.

Atlassian Trading Up 16.6 %

NASDAQ TEAM traded up $44.20 during trading hours on Friday, hitting $311.15. 4,523,495 shares of the company’s stock were exchanged, compared to its average volume of 1,993,957. The business’s 50 day moving average is $259.32 and its 200-day moving average is $206.76. Atlassian has a 12-month low of $135.29 and a 12-month high of $324.37. The firm has a market capitalization of $81.03 billion, a P/E ratio of -205.34 and a beta of 0.83. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. As a group, analysts anticipate that Atlassian will post -0.55 EPS for the current fiscal year.

Insider Buying and Selling

In other Atlassian news, CAO Gene Liu sold 445 shares of Atlassian stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $230.00, for a total transaction of $102,350.00. Following the sale, the chief accounting officer now owns 58,723 shares of the company’s stock, valued at $13,506,290. The trade was a 0.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Anutthara Bharadwaj sold 1,659 shares of Atlassian stock in a transaction 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 directly owns 213,511 shares in the company, valued at $52,483,138.91. The trade was a 0.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 257,156 shares of company stock valued at $65,313,573. Insiders own 38.55% of the company’s stock.

Institutional Trading of Atlassian

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after acquiring an additional 96 shares in the last quarter. True Wealth Design LLC raised its stake in Atlassian by 23,100.0% during 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. Avion Wealth raised its stake in Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after acquiring an additional 157 shares in the last quarter. Reston Wealth Management LLC bought a new stake in Atlassian during the 3rd quarter valued at $48,000. Finally, Quarry LP increased its position in shares of Atlassian by 143.8% during the 2nd quarter. Quarry LP now owns 373 shares of the technology company’s stock valued at $66,000 after purchasing an additional 220 shares during the period. 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.