Jefferies Financial Group Issues Pessimistic Forecast for Atlassian (NASDAQ:TEAM) Stock Price

Atlassian (NASDAQ:TEAM) had its price objective cut by equities research analysts at Jefferies Financial Group from $330.00 to $262.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s target price suggests a potential upside of 41.32% from the company’s current price.

A number of other equities analysts have also weighed in on TEAM. Scotiabank upped their target price on Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. Truist Financial dropped their price target on shares of Atlassian from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Wells Fargo & Company increased their price target on Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. The Goldman Sachs Group upped their target price on shares of Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, Citigroup raised their price target 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. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $305.64.

Atlassian Trading Down 1.2 %

Shares of Atlassian stock traded down $2.28 during trading on Monday, hitting $185.39. The company’s stock had a trading volume of 629,834 shares, compared to its average volume of 2,000,817. Atlassian has a 52 week low of $135.29 and a 52 week high of $326.00. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a 50-day moving average price of $264.05 and a two-hundred day moving average price of $240.72. The stock has a market cap of $48.57 billion, a price-to-earnings ratio of -137.21 and a beta of 1.07.

Atlassian (NASDAQ:TEAM) last released its 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 net margin of 7.22% and a negative return on equity of 17.37%. Equities research analysts anticipate that Atlassian will post -0.34 EPS for the current fiscal year.

Insider Activity at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $253.01, for a total transaction of $2,010,923.48. Following the completion of the sale, the director now directly owns 389,452 shares of the company’s stock, valued at $98,535,250.52. This trade represents a 2.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $259.85, for a total transaction of $394,972.00. Following the transaction, the president now directly owns 210,471 shares of the company’s stock, valued at $54,690,889.35. The trade was a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 263,033 shares of company stock valued at $69,887,912 in the last 90 days. Corporate insiders own 38.55% of the company’s stock.

Institutional Trading of Atlassian

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc boosted its holdings in Atlassian by 77.9% during the 1st quarter. Versant Capital Management Inc now owns 386 shares of the technology company’s stock valued at $82,000 after acquiring an additional 169 shares during the period. First Hawaiian Bank purchased a new stake in shares of Atlassian during the first quarter valued at $292,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Atlassian by 82.7% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 243 shares of the technology company’s stock worth $52,000 after purchasing an additional 110 shares during the last quarter. 111 Capital purchased a new position in Atlassian in the 4th quarter worth about $465,000. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Atlassian by 62.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,567 shares of the technology company’s stock valued at $3,059,000 after buying an additional 4,837 shares during the period. Hedge funds and other institutional investors own 94.45% 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.