Atlassian Co. (NASDAQ:TEAM) Given Consensus Rating of “Moderate Buy” by Brokerages

Atlassian Co. (NASDAQ:TEAM) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-two brokerages that are currently covering the firm, Marketbeat reports. Eight research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $243.16.

TEAM has been the subject of a number of analyst reports. Jefferies Financial Group boosted their price target on Atlassian from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday. Wells Fargo & Company upped their target price on Atlassian from $250.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday. Piper Sandler lifted their price target on shares of Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday. Barclays decreased their price objective on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Finally, JMP Securities upgraded shares of Atlassian to a “hold” rating in a report on Friday, August 2nd.

Insiders Place Their Bets

In other news, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $140.54, for a total transaction of $1,117,011.92. Following the sale, the chief executive officer now directly owns 294,076 shares in the company, valued at approximately $41,329,441.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the transaction, the president now owns 143,966 shares in the company, valued at $23,482,294.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Farquhar sold 7,948 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $140.54, for a total value of $1,117,011.92. Following the completion of the sale, the chief executive officer now directly owns 294,076 shares in the company, valued at approximately $41,329,441.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 230,185 shares of company stock worth $39,155,661 over the last 90 days. Corporate insiders own 38.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dragoneer Investment Group LLC bought a new position in Atlassian during the 2nd quarter valued at about $469,803,000. Price T Rowe Associates Inc. MD raised its stake in shares of Atlassian by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock valued at $2,173,847,000 after acquiring an additional 904,138 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Atlassian in the 2nd quarter worth approximately $91,072,000. Quadrature Capital Ltd bought a new stake in Atlassian during the 1st quarter worth approximately $55,307,000. Finally, Swedbank AB acquired a new stake in Atlassian during the 1st quarter valued at $50,923,000. 93.03% of the stock is owned by institutional investors.

Atlassian Price Performance

NASDAQ TEAM opened at $224.35 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $58.34 billion, a PE ratio of -147.60 and a beta of 0.71. Atlassian has a 12-month low of $135.29 and a 12-month high of $258.69. The company has a 50 day moving average price of $173.30 and a two-hundred day moving average price of $171.30.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.07. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.38%. Atlassian’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.21) EPS. As a group, equities analysts predict that Atlassian will post -0.58 earnings per share for the current fiscal year.

About Atlassian

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.