Atlassian (NASDAQ:TEAM) Price Target Raised to $175.00 at BMO Capital Markets

Atlassian (NASDAQ:TEAM) had its target price increased by BMO Capital Markets from $95.00 to $175.00 in a report issued on Friday, MarketBeat reports. BMO Capital Markets currently has an outperform rating on the technology company’s stock.

TEAM has been the subject of a number of other research reports. Jefferies Financial Group reiterated a “buy” rating and set a $200.00 price objective on shares of Atlassian in a research report on Friday. Bank of America upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and set a $175.00 price target on the stock in a report on Friday. Piper Sandler lowered their price objective on shares of Atlassian from $200.00 to $175.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Morgan Stanley reduced their target price on Atlassian from $290.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, April 16th. Finally, Wall Street Zen cut Atlassian from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 30th. Twenty-three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $172.88.

Atlassian Trading Up 35.3%

Shares of Atlassian stock opened at $149.07 on Friday. The business has a fifty day simple moving average of $93.01 and a 200-day simple moving average of $86.92. Atlassian has a fifty-two week low of $56.01 and a fifty-two week high of $184.00. The firm has a market cap of $37.83 billion, a price-to-earnings ratio of -784.58, a price-to-earnings-growth ratio of 7.91 and a beta of 1.05. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, August 6th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.37. Atlassian had a positive return on equity of 20.07% and a negative net margin of 0.82%.The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period in the previous year, the company earned $0.98 earnings per share. Atlassian’s revenue was up 27.6% compared to the same quarter last year. On average, equities analysts forecast that Atlassian will post 0.67 EPS for the current fiscal year.

Insider Activity

In other news, CFO James Chuong sold 8,838 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total transaction of $775,534.50. Following the transaction, the chief financial officer owned 288,272 shares in the company, valued at $25,295,868. This represents a 2.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 3,000 shares of Atlassian stock in a transaction on Friday, June 12th. The shares were sold at an average price of $89.71, for a total transaction of $269,130.00. Following the completion of the sale, the executive directly owned 227,691 shares of the company’s stock, valued at approximately $20,426,159.61. The trade was a 1.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 20,041 shares of company stock worth $1,801,069. Insiders own 36.66% of the company’s stock.

Hedge Funds Weigh In On Atlassian

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Snowden Capital Advisors LLC grew its stake in Atlassian by 1.6% in the second quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock worth $907,000 after purchasing an additional 71 shares during the period. Financial Perspectives Inc lifted its position in Atlassian by 11.7% during the fourth quarter. Financial Perspectives Inc now owns 718 shares of the technology company’s stock valued at $116,000 after buying an additional 75 shares during the period. Slow Capital Inc. boosted its holdings in shares of Atlassian by 0.3% during the 4th quarter. Slow Capital Inc. now owns 33,486 shares of the technology company’s stock valued at $5,429,000 after buying an additional 84 shares in the last quarter. Verdence Capital Advisors LLC boosted its holdings in shares of Atlassian by 3.0% during the 4th quarter. Verdence Capital Advisors LLC now owns 3,079 shares of the technology company’s stock valued at $499,000 after buying an additional 89 shares in the last quarter. Finally, Bogart Wealth LLC grew its position in shares of Atlassian by 76.4% in the 4th quarter. Bogart Wealth LLC now owns 217 shares of the technology company’s stock worth $35,000 after buying an additional 94 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian News Roundup

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Results exceeded expectations: Atlassian reported adjusted earnings of $1.87 per share, versus the $1.50 consensus estimate, while revenue rose 27.6% year over year to $1.77 billion, ahead of the $1.66 billion forecast. Atlassian beats quarterly estimates on strong cloud demand
• Positive Sentiment: Cloud and enterprise momentum supported the rally: Cloud revenue grew 31% to $1.21 billion, Data Center revenue topped estimates, and the company cited record large enterprise contracts, strong subscription demand and rising adoption of its AI-powered Rovo platform. TEAM Q4 Earnings Call Highlights AI and Enterprise Momentum
• Positive Sentiment: Fiscal 2027 guidance was viewed favorably: Management’s cloud revenue outlook exceeded expectations, and first-quarter revenue guidance of approximately $1.7 billion was above or in line with consensus, reinforcing confidence in continued growth. Atlassian earnings beat drives 30% stock surge
• Positive Sentiment: Analyst support strengthened: Bank of America upgraded TEAM to Buy with a $175 target, while BMO raised its target to $175 and Oppenheimer lifted its target to $200 with an Outperform rating. Unusually heavy call-option activity also reflected bullish near-term positioning.
• Neutral Sentiment: Atlassian’s results were interpreted as a potential turning point for software stocks broadly, suggesting investors may again be rewarding solid fundamentals despite AI-disruption concerns. Software Stocks Trade Like It’s 2022 After Atlassian Leads Earnings Rally
• Negative Sentiment: The company still faces external uncertainty, and the sharp rebound leaves TEAM trading near the upper end of its recent range, increasing the risk of profit-taking if cloud growth or AI adoption slows.

About Atlassian

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.