Atlassian (NASDAQ:TEAM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Atlassian (NASDAQ:TEAM) from a hold rating to a buy rating in a research report report published on Monday morning.

Several other equities analysts have also issued reports on TEAM. BTIG Research decreased their target price on Atlassian from $220.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Wolfe Research reiterated an “outperform” rating and issued a $100.00 price target on shares of Atlassian in a research report on Thursday, March 12th. Barclays reduced their price objective on shares of Atlassian from $215.00 to $165.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Atlassian in a report on Wednesday, January 21st. Finally, Jefferies Financial Group set a $150.00 target price on shares of Atlassian in a research note on Friday, February 6th. Twenty-two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $180.48.

Atlassian Stock Performance

Shares of Atlassian stock opened at $66.46 on Monday. The firm has a fifty day moving average of $92.12 and a two-hundred day moving average of $135.32. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $17.53 billion, a price-to-earnings ratio of -92.30 and a beta of 0.94. Atlassian has a 52 week low of $66.10 and a 52 week high of $242.00.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, February 5th. The technology company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.10. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.54 billion. Atlassian had a negative return on equity of 6.33% and a negative net margin of 3.29%.The firm’s revenue was up 23.3% on a year-over-year basis. During the same period last year, the company earned $0.96 EPS. As a group, equities research analysts predict that Atlassian will post -0.34 EPS for the current year.

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 7,665 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $161.11, for a total value of $1,234,908.15. Following the completion of the transaction, the chief executive officer directly owned 429,240 shares in the company, valued at approximately $69,154,856.40. The trade was a 1.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Scott Farquhar sold 7,665 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $154.20, for a total value of $1,181,943.00. Following the completion of the transaction, the director owned 444,570 shares of the company’s stock, valued at $68,552,694. This represents a 1.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 281,953 shares of company stock worth $38,201,571 in the last quarter. 36.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Atlassian

Several large investors have recently made changes to their positions in the stock. MV Capital Management Inc. bought a new stake in Atlassian in the 4th quarter valued at $25,000. Physician Wealth Advisors Inc. increased its holdings in Atlassian by 60.4% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after purchasing an additional 61 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after purchasing an additional 161 shares in the last quarter. Atlantic Union Bankshares Corp raised its stake in shares of Atlassian by 19,900.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock valued at $32,000 after purchasing an additional 199 shares during the period. Finally, Board of the Pension Protection Fund acquired a new stake in shares of Atlassian in the 4th quarter valued at about $32,000. Institutional investors own 94.45% of the company’s stock.

Atlassian Company Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.