Atlassian (NASDAQ:TEAM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Atlassian (NASDAQ:TEAM) from a hold rating to a buy rating in a report released on Saturday.

Several other research firms have also weighed in on TEAM. KeyCorp lowered their target price on shares of Atlassian from $210.00 to $170.00 and set an “overweight” rating for the company in a research note on Friday, February 6th. Guggenheim lowered their price objective on shares of Atlassian from $225.00 to $190.00 and set a “buy” rating for the company in a research report on Friday, February 6th. BMO Capital Markets set a $130.00 price objective on shares of Atlassian and gave the stock an “outperform” rating in a research note on Friday, February 6th. Citigroup cut their target price on shares of Atlassian from $210.00 to $160.00 and set a “buy” rating on the stock in a report on Monday, February 9th. Finally, Barclays decreased their target price on Atlassian from $215.00 to $165.00 and set an “overweight” rating for the company in a research note on Friday, February 6th. Twenty research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and an average target price of $189.32.

Atlassian Trading Down 1.9%

NASDAQ:TEAM opened at $82.04 on Friday. The company has a market cap of $21.64 billion, a PE ratio of -113.94, a P/E/G ratio of 331.23 and a beta of 0.94. The business’s 50 day moving average is $110.98 and its two-hundred day moving average is $143.37. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.62. Atlassian has a 52 week low of $67.85 and a 52 week high of $242.00.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, February 5th. The technology company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.54 billion. Atlassian had a negative return on equity of 6.33% and a negative net margin of 3.29%.The business’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.96 EPS. On average, analysts predict that Atlassian will post -0.34 EPS for the current year.

Insider Transactions at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $161.79, for a total value of $1,240,120.35. Following the completion of the transaction, the chief executive officer directly owned 107,310 shares in the company, valued at $17,361,684.90. This trade represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Scott Farquhar sold 7,665 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $161.79, for a total transaction of $1,240,120.35. Following the transaction, the director owned 99,645 shares in the company, valued at $16,121,564.55. This represents a 7.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 374,461 shares of company stock valued at $53,152,830 in the last quarter. 36.66% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Atlassian

A number of institutional investors have recently added to or reduced their stakes in the company. Capco Asset Management LLC acquired a new position in Atlassian during the second quarter worth about $25,000. MV Capital Management Inc. bought a new stake in Atlassian during the fourth quarter worth approximately $25,000. Physician Wealth Advisors Inc. boosted its holdings in Atlassian by 60.4% during the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after buying an additional 61 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Atlassian by 447.2% in the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after buying an additional 161 shares during the last quarter. Finally, Atlantic Union Bankshares Corp grew its position 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 during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

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.