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

Shares of Atlassian Co. (NASDAQ:TEAM) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-three brokerages that are currently covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $266.10.

Several research firms have issued reports on TEAM. Oppenheimer boosted their price objective on shares of Atlassian from $270.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Piper Sandler boosted their price target on Atlassian from $265.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Jefferies Financial Group increased their price objective on Atlassian from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. UBS Group lifted their target price on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, BMO Capital Markets raised Atlassian from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $255.00 to $292.00 in a research report on Friday.

Insiders Place Their Bets

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $188.79, for a total value of $143,480.40. Following the completion of the transaction, the president now owns 228,996 shares of the company’s stock, valued at approximately $43,232,154.84. This trade represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $243.35, for a total transaction of $1,934,145.80. Following the sale, the chief executive officer now directly owns 445,088 shares in the company, valued at $108,312,164.80. This trade represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 263,480 shares of company stock valued at $62,377,979. 38.55% of the stock is currently owned by insiders.

Institutional Trading of Atlassian

Large investors have recently added to or reduced their stakes in the company. National Bank of Canada FI boosted its position in Atlassian by 21.6% in the second quarter. National Bank of Canada FI now owns 1,156 shares of the technology company’s stock valued at $206,000 after buying an additional 205 shares during the last quarter. Quest Partners LLC increased its stake in shares of Atlassian by 33.3% in the second quarter. Quest Partners LLC now owns 1,805 shares of the technology company’s stock worth $319,000 after acquiring an additional 451 shares during the period. BOKF NA increased its stake in shares of Atlassian by 17.9% in the second quarter. BOKF NA now owns 8,305 shares of the technology company’s stock worth $1,469,000 after acquiring an additional 1,258 shares during the period. DekaBank Deutsche Girozentrale lifted its position in Atlassian by 42.0% during the second quarter. DekaBank Deutsche Girozentrale now owns 37,788 shares of the technology company’s stock valued at $6,666,000 after purchasing an additional 11,176 shares during the period. Finally, Meeder Advisory Services Inc. lifted its position in Atlassian by 23.5% during the second quarter. Meeder Advisory Services Inc. now owns 1,616 shares of the technology company’s stock valued at $286,000 after purchasing an additional 307 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Trading Down 0.9 %

Shares of NASDAQ TEAM opened at $242.39 on Friday. The business’s 50 day moving average price is $254.33 and its 200-day moving average price is $199.59. Atlassian has a fifty-two week low of $135.29 and a fifty-two week high of $287.97. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market cap of $63.13 billion, a price-to-earnings ratio of -159.47 and a beta of 0.83.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business’s revenue was up 21.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.07) earnings per share. On average, sell-side analysts expect that Atlassian will post -0.54 earnings per share for the current year.

Atlassian Company Profile

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.