Atlassian Corporation PLC (NASDAQ:TEAM) Receives Average Rating of “Moderate Buy” from Analysts

Atlassian Corporation PLC (NASDAQ:TEAM) has been assigned an average rating of “Moderate Buy” from the thirty analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-one have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $233.0769.

Several research analysts have commented on TEAM shares. Zacks Research upgraded Atlassian from a “strong sell” rating to a “hold” rating in a research note on Monday, November 3rd. Sanford C. Bernstein raised their price objective on shares of Atlassian from $290.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, November 18th. KeyCorp decreased their target price on shares of Atlassian from $250.00 to $210.00 and set an “overweight” rating on the stock in a report on Thursday, October 23rd. The Goldman Sachs Group reiterated a “buy” rating and issued a $260.00 target price on shares of Atlassian in a research note on Friday, October 31st. Finally, Jefferies Financial Group set a $262.00 price target on shares of Atlassian in a research report on Thursday, January 15th.

Atlassian Stock Performance

Shares of TEAM stock opened at $138.44 on Thursday. The firm’s 50 day moving average is $150.56 and its 200 day moving average is $162.89. The stock has a market capitalization of $36.42 billion, a P/E ratio of -194.98, a PEG ratio of 20.40 and a beta of 0.88. Atlassian has a 12 month low of $115.53 and a 12 month high of $326.00. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, October 30th. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.21. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the previous year, the firm posted $0.77 EPS. The business’s revenue for the quarter was up 20.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Atlassian will post -0.34 earnings per share for the current year.

Insiders Place Their Bets

In other Atlassian news, Director Scott Farquhar sold 7,665 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $167.61, for a total value of $1,284,730.65. Following the sale, the director owned 314,265 shares of the company’s stock, valued at $52,673,956.65. This trade represents a 2.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $167.61, for a total value of $1,284,730.65. Following the transaction, the chief executive officer directly owned 314,265 shares of the company’s stock, valued at $52,673,956.65. The trade was a 2.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 551,049 shares of company stock worth $84,434,930 in the last ninety days. 36.66% of the stock is currently owned by insiders.

Institutional Trading of Atlassian

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Capco Asset Management LLC purchased a new position in shares of Atlassian in the 2nd quarter worth about $25,000. Physician Wealth Advisors Inc. lifted its position in Atlassian by 60.4% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after buying an additional 61 shares during the last quarter. Atlantic Union Bankshares Corp boosted its stake in Atlassian by 19,900.0% in the third quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock worth $32,000 after buying an additional 199 shares in the last quarter. Board of the Pension Protection Fund purchased a new stake in Atlassian in the fourth quarter worth approximately $32,000. Finally, Geneos Wealth Management Inc. grew its position in Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after acquiring an additional 161 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Company Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.