Atlassian Corporation PLC (NASDAQ:TEAM) Receives $183.81 Consensus Target Price from Brokerages

Shares of Atlassian Corporation PLC (NASDAQ:TEAM) have been assigned an average rating of “Moderate Buy” from the thirty research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and twenty-five have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $183.8148.

A number of research firms recently commented on TEAM. Zacks Research cut shares of Atlassian from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Citizens Jmp reissued a “market perform” rating on shares of Atlassian in a report on Wednesday, July 1st. KeyCorp raised their target price on Atlassian from $115.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Jefferies Financial Group restated a “buy” rating and issued a $200.00 target price on shares of Atlassian in a research note on Friday, August 7th. Finally, Wells Fargo & Company upped their price target on Atlassian from $140.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, August 7th.

Insider Buying and Selling

In related news, CFO James Chuong sold 9,054 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total value of $1,561,362.30. Following the sale, the chief financial officer directly owned 279,218 shares in the company, valued at approximately $48,151,144.10. The trade was a 3.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Gene Liu sold 939 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $190.00, for a total transaction of $178,410.00. Following the sale, the chief accounting officer directly owned 55,868 shares in the company, valued at approximately $10,614,920. This trade represents a 1.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 22,138 shares of company stock valued at $3,751,873. 36.66% of the stock is owned by insiders.

Institutional Trading of Atlassian

Several hedge funds and other institutional investors have recently modified their holdings of TEAM. California State Teachers Retirement System boosted its holdings in shares of Atlassian by 7,498.4% in the second quarter. California State Teachers Retirement System now owns 17,767,858 shares of the technology company’s stock worth $1,382,162,000 after acquiring an additional 17,534,021 shares during the period. AQR Capital Management LLC raised its stake in shares of Atlassian by 291.4% during the 4th quarter. AQR Capital Management LLC now owns 7,749,694 shares of the technology company’s stock valued at $1,256,535,000 after purchasing an additional 5,769,788 shares during the period. Norges Bank bought a new stake in shares of Atlassian during the 4th quarter valued at $323,526,000. Morgan Stanley lifted its holdings in Atlassian by 52.4% during the 4th quarter. Morgan Stanley now owns 4,822,007 shares of the technology company’s stock worth $781,841,000 after purchasing an additional 1,657,309 shares in the last quarter. Finally, Carmignac Gestion lifted its holdings in Atlassian by 115.8% during the 1st quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company’s stock worth $177,707,000 after purchasing an additional 1,397,402 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Atlassian Stock Performance

NASDAQ TEAM opened at $179.57 on Friday. The company has a market capitalization of $45.57 billion, a PE ratio of -945.11, a price-to-earnings-growth ratio of 13.97 and a beta of 1.15. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.78 and a current ratio of 0.78. Atlassian has a 52-week low of $56.01 and a 52-week high of $198.60. The company has a 50-day simple moving average of $134.00 and a 200 day simple moving average of $98.51.

Atlassian (NASDAQ:TEAM) last released its earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.37. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the company earned $0.98 earnings per share. The company’s quarterly revenue was up 27.6% on a year-over-year basis. On average, research analysts predict that Atlassian will post 0.94 EPS for the current year.

Atlassian Company Profile

Atlassian Corporation develops collaboration, productivity and workflow software for software development, information technology, business and other teams. Its products are designed to help organizations plan projects, manage work, share knowledge, improve service delivery and coordinate across departments.

Its product portfolio includes Jira for project and issue tracking, Confluence for collaboration and knowledge management, Jira Service Management for IT and business service workflows, Trello for organizing tasks and projects, Bitbucket for source-code management, and Loom for video messaging.