Atlassian Co. (NASDAQ:TEAM) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Atlassian Co. (NASDAQ:TEAM) has been assigned a consensus recommendation of “Moderate Buy” from the eighteen ratings firms that are covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $228.81.

Several research firms recently commented on TEAM. Oppenheimer reduced their price target on shares of Atlassian from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Canaccord Genuity Group reduced their price target on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Barclays upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $235.00 to $275.00 in a research report on Thursday, April 11th. Truist Financial reduced their price target on shares of Atlassian from $220.00 to $200.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Finally, TD Cowen reduced their price target on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a research report on Friday, April 26th.

Insider Transactions at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $169.47, for a total transaction of $1,346,947.56. Following the transaction, the chief executive officer now directly owns 373,556 shares of the company’s stock, valued at approximately $63,306,535.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $169.47, for a total transaction of $1,346,947.56. Following the transaction, the chief executive officer now directly owns 373,556 shares of the company’s stock, valued at approximately $63,306,535.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $183.51, for a total transaction of $1,512,305.91. Following the transaction, the chief executive officer now directly owns 308,763 shares in the company, valued at $56,661,098.13. The disclosure for this sale can be found here. Insiders have sold a total of 276,164 shares of company stock valued at $47,848,092 in the last ninety days. 40.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Atlassian

Several institutional investors and hedge funds have recently made changes to their positions in TEAM. Hollencrest Capital Management boosted its position in shares of Atlassian by 383.9% in the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after buying an additional 119 shares in the last quarter. Trust Co. of Vermont boosted its position in shares of Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after buying an additional 174 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Atlassian in the 1st quarter worth about $40,000. Crewe Advisors LLC purchased a new stake in shares of Atlassian in the 1st quarter worth about $43,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Atlassian by 271.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after buying an additional 271 shares in the last quarter. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Stock Up 6.3 %

Shares of NASDAQ:TEAM opened at $178.22 on Friday. The company has a market capitalization of $46.39 billion, a PE ratio of -282.89 and a beta of 0.74. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82. Atlassian has a twelve month low of $152.34 and a twelve month high of $258.69. The firm has a 50 day simple moving average of $170.24 and a 200-day simple moving average of $194.60.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.27. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The company’s revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.40) EPS. On average, equities analysts predict that Atlassian will post -0.22 EPS for the current fiscal 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.