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

Shares of Atlassian Co. (NASDAQ:TEAM) have received an average rating of “Moderate Buy” from the eighteen research firms that are covering the company, MarketBeat reports. Nine equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $224.25.

Several research firms have recently issued reports on TEAM. The Goldman Sachs Group upped their price objective on Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. UBS Group lowered their price objective on Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. Mizuho lowered their price objective on Atlassian from $265.00 to $240.00 and set a “buy” rating for the company in a research report on Monday. KeyCorp assumed coverage on Atlassian in a research report on Tuesday, March 19th. They set a “sector weight” rating for the company. Finally, Citigroup decreased their target price on Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a research report on Friday, April 12th.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 8,241 shares of the stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $238.95, for a total transaction of $1,969,186.95. Following the completion of the sale, the chief executive officer now directly owns 403,809 shares of the company’s stock, valued at approximately $96,490,160.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Michael Cannon-Brookes sold 8,241 shares of the stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $238.95, for a total transaction of $1,969,186.95. Following the completion of the transaction, the chief executive officer now directly owns 403,809 shares of the company’s stock, valued at approximately $96,490,160.55. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Anutthara Bharadwaj sold 2,470 shares of the stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $240.55, for a total value of $594,158.50. Following the transaction, the president now directly owns 171,674 shares of the company’s stock, valued at $41,296,180.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 293,159 shares of company stock valued at $62,026,607. 40.48% of the stock is owned by company insiders.

Hedge Funds Weigh In On Atlassian

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Atlassian by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after buying an additional 504,181 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Atlassian by 3.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,237,507 shares of the technology company’s stock valued at $2,435,095,000 after purchasing an additional 326,673 shares in the last quarter. WCM Investment Management LLC increased its stake in Atlassian by 2.7% in the 4th quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock valued at $2,325,490,000 after purchasing an additional 249,017 shares in the last quarter. Baillie Gifford & Co. increased its stake in Atlassian by 20.7% in the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock valued at $2,094,980,000 after purchasing an additional 1,511,318 shares in the last quarter. Finally, BlackRock Inc. increased its stake in Atlassian by 26.0% in the 1st quarter. BlackRock Inc. now owns 7,563,473 shares of the technology company’s stock valued at $1,294,640,000 after purchasing an additional 1,561,804 shares in the last quarter. 93.03% of the stock is owned by hedge funds and other institutional investors.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $194.85 on Friday. The stock’s 50-day moving average is $203.36 and its two-hundred day moving average is $206.79. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07. Atlassian has a 1-year low of $128.02 and a 1-year high of $258.69. The company has a market cap of $50.55 billion, a price-to-earnings ratio of -130.77 and a beta of 0.63.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.24). Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Analysts forecast that Atlassian will post -0.4 EPS for the current fiscal 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.