KeyCorp Increases Atlassian (NASDAQ:TEAM) Price Target to $365.00

Atlassian (NASDAQ:TEAM) had its price target hoisted by equities researchers at KeyCorp from $315.00 to $365.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. KeyCorp’s price objective points to a potential upside of 15.94% from the company’s previous close.

Several other brokerages also recently weighed in on TEAM. Raymond James increased their price target on Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Morgan Stanley raised their target price on shares of Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday. Mizuho boosted their price target on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research note on Friday. Citigroup raised their price objective on shares of Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Finally, Wells Fargo & Company boosted their target price on Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday. Nine analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and an average price target of $293.43.

Atlassian Stock Performance

NASDAQ:TEAM traded up $47.86 during trading hours on Friday, reaching $314.81. 4,177,348 shares of the company’s stock were exchanged, compared to its average volume of 1,966,652. Atlassian has a 1-year low of $135.29 and a 1-year high of $324.37. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $81.98 billion, a price-to-earnings ratio of -206.71 and a beta of 0.83. The company has a 50-day moving average of $259.32 and a 200 day moving average of $206.76.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. Research analysts anticipate that Atlassian will post -0.55 EPS for the current year.

Insider Buying and Selling

In other news, CAO Gene Liu sold 445 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $230.00, for a total value of $102,350.00. Following the completion of the transaction, the chief accounting officer now owns 58,723 shares of the company’s stock, valued at $13,506,290. The trade was a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 1,659 shares of Atlassian stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $245.81, for a total transaction of $407,798.79. Following the completion of the sale, the president now directly owns 213,511 shares of the company’s stock, valued at $52,483,138.91. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 257,156 shares of company stock worth $65,313,573 in the last ninety days. Insiders own 38.55% of the company’s stock.

Institutional Trading of Atlassian

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. increased its position in Atlassian by 0.9% during the third quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock worth $1,352,115,000 after purchasing an additional 78,454 shares during the last quarter. State Street Corp grew its stake in shares of Atlassian by 0.3% during the 3rd quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock valued at $565,424,000 after buying an additional 8,957 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Atlassian by 5.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock worth $393,588,000 after buying an additional 131,621 shares during the last quarter. FMR LLC raised its position in shares of Atlassian by 7.4% in the 3rd quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock worth $346,679,000 after buying an additional 150,237 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Atlassian by 2.8% in the third quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company’s stock valued at $340,453,000 after acquiring an additional 57,911 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

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.