Citigroup Issues Pessimistic Forecast for Atlassian (NASDAQ:TEAM) Stock Price

Atlassian (NASDAQ:TEAM) had its price objective reduced by equities research analysts at Citigroup from $245.00 to $220.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Citigroup‘s target price indicates a potential upside of 43.08% from the company’s current price.

Several other analysts have also commented on TEAM. Wall Street Zen raised Atlassian from a “hold” rating to a “buy” rating in a report on Sunday, September 13th. Oppenheimer dropped their target price on Atlassian from $275.00 to $240.00 and set an “outperform” rating on the stock in a research report on Friday. UBS Group reissued a “buy” rating on shares of Atlassian in a research report on Friday. Truist Financial reaffirmed a “buy” rating and set a $200.00 price target (down from $250.00) on shares of Atlassian in a research report on Friday. Finally, Cantor Fitzgerald upped their price target on shares of Atlassian from $220.00 to $252.00 and gave the company an “overweight” rating in a research report on Monday, November 2nd. Twenty-four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $209.48.

Atlassian Stock Performance

NASDAQ:TEAM traded up $0.07 during mid-day trading on Monday, reaching $153.75. The company’s stock had a trading volume of 1,919,584 shares, compared to its average volume of 5,485,894. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.93. The stock has a market cap of $38.92 billion, a P/E ratio of 427.04, a PEG ratio of 17.13 and a beta of 1.16. The firm’s fifty day moving average price is $196.05 and its two-hundred day moving average price is $119.57. Atlassian has a 12-month low of $56.01 and a 12-month high of $229.96.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, November 5th. The technology company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.26. Atlassian had a net margin of 1.28% and a return on equity of 31.64%. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the firm posted $1.04 EPS. The business’s quarterly revenue was up 23.7% compared to the same quarter last year. On average, equities analysts forecast that Atlassian will post 0.66 EPS for the current fiscal year.

Insider Activity

In related news, CAO Gene Liu sold 337 shares of Atlassian stock in a transaction on Monday, October 12th. The shares were sold at an average price of $210.00, for a total transaction of $70,770.00. Following the transaction, the chief accounting officer owned 55,531 shares in the company, valued at approximately $11,661,510. The trade was a 0.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James Chuong sold 9,054 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total value of $1,561,362.30. Following the completion of the transaction, the chief financial officer owned 279,218 shares in the company, valued at $48,151,144.10. The trade was a 3.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 22,475 shares of company stock worth $3,822,643 in the last three months. Company insiders own 37.63% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TEAM. Fortitude Family Office LLC boosted its holdings in shares of Atlassian by 23.0% during the 3rd quarter. Fortitude Family Office LLC now owns 289 shares of the technology company’s stock valued at $52,000 after purchasing an additional 54 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Atlassian by 0.5% in the third quarter. Allworth Financial LP now owns 16,055 shares of the technology company’s stock worth $2,879,000 after purchasing an additional 74 shares during the last quarter. Activest Wealth Management increased its holdings in shares of Atlassian by 372.4% in the third quarter. Activest Wealth Management now owns 137 shares of the technology company’s stock worth $25,000 after purchasing an additional 108 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Atlassian by 3.0% in the third quarter. Parallel Advisors LLC now owns 3,851 shares of the technology company’s stock worth $690,000 after buying an additional 112 shares in the last quarter. Finally, Greenleaf Trust lifted its position in shares of Atlassian by 3.7% in the third quarter. Greenleaf Trust now owns 3,225 shares of the technology company’s stock worth $578,000 after buying an additional 114 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

Key Stories Impacting Atlassian

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Barclays maintained an Overweight rating while reducing its price target from $222 to $210; that target implies about 35.9% upside from the cited $154.57 share price. Barclays stock recommendations
• Positive Sentiment: Truist reiterated its Buy rating, and another analyst raised a price target to $190, providing some support amid broader target revisions. Atlassian price target raised to $190
• Neutral Sentiment: Atlassian beat fiscal first-quarter 2027 estimates for revenue, earnings per share and cloud growth. However, analysts’ responses to the results and outlook were mixed. Atlassian tanks after huge run as guidance disappoints, but strength remains
• Negative Sentiment: The main concern is guidance that suggested growth may slow. The report says shares fell sharply after the outlook, indicating investors focused more on future growth than the quarterly beat. Atlassian tanks after huge run as guidance disappoints, but strength remains
• Negative Sentiment: Oppenheimer, Wells Fargo, BTIG and Jefferies cut their price targets, adding to concerns about the outlook despite some analysts maintaining positive ratings.

About Atlassian

Atlassian Corporation develops collaboration and productivity software for software, IT and business teams. Its products help organizations plan and track work, manage software development and support services, and share information across teams.

Its product portfolio includes Jira for project and issue tracking, Confluence for team documentation and collaboration, Jira Service Management for IT and other service teams, Trello for visual work management, and Bitbucket for code collaboration.