Atlassian Co. (NASDAQ:TEAM) Receives Consensus Rating of “Moderate Buy” from Analysts

Atlassian Co. (NASDAQ:TEAM) has been given an average rating of “Moderate Buy” by the twenty-four research firms that are presently covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $319.71.

TEAM has been the topic of several research analyst reports. Barclays raised their price objective on shares of Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Cantor Fitzgerald boosted their price objective on shares of Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Raymond James reiterated an “outperform” rating and issued a $330.00 target price (up previously from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Truist Financial restated a “buy” rating and set a $350.00 price target (up from $300.00) on shares of Atlassian in a research note on Friday, January 31st. Finally, Mizuho raised their price objective on Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st.

Insider Transactions at Atlassian

In other Atlassian news, CAO Gene Liu sold 165 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $245.84, for a total transaction of $40,563.60. Following the sale, the chief accounting officer now owns 56,423 shares of the company’s stock, valued at $13,871,030.32. This represents a 0.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the completion of the transaction, the chief executive officer now directly owns 429,192 shares of the company’s stock, valued at approximately $104,529,711.60. This represents a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 256,705 shares of company stock valued at $67,890,023. Corporate insiders own 38.55% of the company’s stock.

Institutional Trading of Atlassian

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its position in Atlassian by 68.6% in the 3rd 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. True Wealth Design LLC lifted its stake in shares of Atlassian by 23,100.0% during the third 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 during the period. Avion Wealth boosted its holdings in Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after acquiring an additional 157 shares during the last quarter. Assetmark Inc. increased its position in Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after purchasing an additional 41 shares during the period. Finally, Reston Wealth Management LLC bought a new stake in Atlassian during the 3rd quarter worth about $48,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Stock Up 2.8 %

Atlassian stock opened at $322.94 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.18. Atlassian has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The firm has a fifty day moving average price of $265.92 and a two-hundred day moving average price of $213.45. The firm has a market cap of $84.61 billion, a price-to-earnings ratio of -241.00 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data 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 17.37% and a negative net margin of 7.22%. As a group, analysts forecast that Atlassian will post -0.34 earnings per share for the current year.

Atlassian Company Profile

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.