Atlassian (NASDAQ:TEAM) Price Target Raised to $300.00

Atlassian (NASDAQ:TEAM) had its target price lifted by Wells Fargo & Company from $250.00 to $300.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

A number of other analysts also recently commented on TEAM. Truist Financial upped their target price on Atlassian from $160.00 to $200.00 and gave the stock a “hold” rating in a research note on Friday. Scotiabank lifted their target price on shares of Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a report on Friday. Baird R W downgraded shares of Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Capital One Financial upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target on the stock in a research report on Thursday, July 11th. Finally, 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 research report on Monday, August 5th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Atlassian has an average rating of “Moderate Buy” and an average target price of $243.16.

Atlassian Stock Performance

TEAM opened at $224.35 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. Atlassian has a 12-month low of $135.29 and a 12-month high of $258.69. The firm has a 50 day moving average of $173.30 and a two-hundred day moving average of $171.13. The firm has a market capitalization of $58.34 billion, a PE ratio of -147.60 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.38%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the company posted ($0.07) earnings per share. The firm’s revenue was up 21.5% compared to the same quarter last year. On average, analysts anticipate that Atlassian will post -0.58 EPS for the current year.

Insider Transactions at Atlassian

In related news, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $163.11, for a total value of $123,963.60. Following the completion of the transaction, the president now directly owns 143,966 shares of the company’s stock, valued at approximately $23,482,294.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $163.11, for a total transaction of $123,963.60. Following the transaction, the president now directly owns 143,966 shares in the company, valued at approximately $23,482,294.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Scott Farquhar sold 7,948 shares of the company’s 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 of the company’s stock, 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 222,237 shares of company stock valued at $38,014,805 over the last ninety days. Insiders own 38.55% of the company’s stock.

Institutional Investors Weigh In On Atlassian

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Asset Dedication LLC grew its holdings in Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after buying an additional 108 shares in the last quarter. Hollencrest Capital Management boosted its position in shares of Atlassian by 383.9% during the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after acquiring an additional 119 shares during the last quarter. Trust Co. of Vermont grew its holdings in shares of Atlassian by 2,175.0% in the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after purchasing an additional 174 shares during the period. Rothschild Investment LLC acquired a new stake in Atlassian during the second quarter worth about $36,000. Finally, GAMMA Investing LLC increased its position in Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after purchasing an additional 96 shares during the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

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.