Atlassian (NASDAQ:TEAM) Price Target Raised to $235.00

Atlassian (NASDAQ:TEAM) had its price objective hoisted by Royal Bank Of Canada from $215.00 to $235.00 in a report published on Monday morning, Marketbeat reports. They currently have an outperform rating on the technology company’s stock.

TEAM has been the subject of several other reports. KeyCorp boosted their price target on Atlassian from $115.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Wells Fargo & Company upped their price objective on Atlassian from $140.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Citizens Jmp reaffirmed a “market perform” rating on shares of Atlassian in a research report on Wednesday, July 1st. Truist Financial raised their price objective on Atlassian from $160.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Finally, BTIG Research lifted their target price on Atlassian from $180.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Twenty-five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and an average price target of $196.00.

Atlassian Price Performance

Shares of TEAM opened at $204.66 on Monday. The company has a 50 day moving average price of $181.48 and a 200-day moving average price of $118.43. Atlassian has a fifty-two week low of $56.01 and a fifty-two week high of $214.77. The stock has a market capitalization of $51.94 billion, a PE ratio of -1,077.16, a PEG ratio of 16.35 and a beta of 1.22. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.78 and a current ratio of 0.78.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Friday, August 7th. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.37. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.66 billion. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. The company’s quarterly revenue was up 27.6% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share. Equities analysts predict that Atlassian will post 0.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlassian

In other Atlassian news, CRO Brian Duffy sold 1,851 shares of Atlassian stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total value of $319,204.95. Following the transaction, the executive directly owned 218,223 shares of the company’s stock, valued at approximately $37,632,556.35. The trade was a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Gene Liu sold 337 shares of the company’s stock in a transaction on Monday, October 12th. The stock was sold at an average price of $210.00, for a total value of $70,770.00. Following the transaction, the chief accounting officer directly owned 55,531 shares in the company, valued at approximately $11,661,510. The trade was a 0.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,475 shares of company stock worth $3,822,643 over the last three months. Corporate insiders own 36.66% of the company’s stock.

Institutional Trading of Atlassian

Institutional investors have recently made changes to their positions in the business. Fortitude Family Office LLC grew its holdings in Atlassian by 23.0% during the third quarter. Fortitude Family Office LLC now owns 289 shares of the technology company’s stock worth $52,000 after acquiring an additional 54 shares during the period. Western Financial Corp CA purchased a new position in Atlassian during the third quarter valued at approximately $598,000. Sanders Morris Harris LLC purchased a new position in Atlassian during the third quarter valued at approximately $4,644,000. Seelaus Asset Management LLC purchased a new position in Atlassian during the third quarter valued at approximately $558,000. Finally, First Citizens Bank & Trust Co. acquired a new position in Atlassian in the third quarter valued at approximately $243,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

About Atlassian

Atlassian Corporation develops collaboration, productivity and workflow-management software for technology, business and enterprise teams. Its products are designed to help organizations plan projects, manage software development, document and share knowledge, provide IT and customer support, and coordinate work across distributed teams.

Its product portfolio includes Jira for project and issue management, Confluence for team collaboration and knowledge sharing, Jira Service Management for IT service and support operations, and Trello for organizing tasks and projects.