Jefferies Financial Group Has Lowered Expectations for Atlassian (NASDAQ:TEAM) Stock Price

Atlassian (NASDAQ:TEAM) had its price target decreased by investment analysts at Jefferies Financial Group from $245.00 to $190.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Jefferies Financial Group‘s price target would indicate a potential upside of 23.63% from the stock’s current price.

TEAM has been the topic of several other reports. Morgan Stanley lifted their price target on shares of Atlassian from $120.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Wells Fargo & Company reduced their target price on shares of Atlassian from $270.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday. TD Cowen lifted their target price on shares of Atlassian from $145.00 to $180.00 and gave the stock a “hold” rating in a research report on Tuesday. Wall Street Zen raised shares of Atlassian from a “hold” rating to a “buy” rating in a research note on Sunday, September 13th. Finally, Cantor Fitzgerald upped their price target on shares of Atlassian from $220.00 to $252.00 and gave the company an “overweight” rating in a research report on Monday. Twenty-four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $210.96.

Atlassian Stock Down 16.2%

Shares of NASDAQ:TEAM traded down $29.61 during mid-day trading on Friday, hitting $153.68. 7,474,600 shares of the company traded hands, compared to its average volume of 5,503,001. The stock has a 50-day moving average price of $196.69 and a two-hundred day moving average price of $119.39. Atlassian has a 12-month low of $56.01 and a 12-month high of $229.96. The stock has a market cap of $38.90 billion, a P/E ratio of -808.84, a P/E/G ratio of 20.25 and a beta of 1.16. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.93.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, November 5th. The technology company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.26. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the business posted $1.04 earnings per share. Atlassian’s revenue was up 23.7% on a year-over-year basis. On average, equities research analysts forecast that Atlassian will post 0.69 earnings per share for the current year.

Insiders Place Their Bets

In other Atlassian news, CFO James Chuong sold 9,054 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total transaction of $1,561,362.30. Following the completion of the sale, the chief financial officer directly owned 279,218 shares of the company’s stock, valued at approximately $48,151,144.10. This represents a 3.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 7,617 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $163.00, for a total value of $1,241,571.00. Following the completion of the sale, the executive owned 220,074 shares of the company’s stock, valued at $35,872,062. This trade represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 22,475 shares of company stock valued at $3,822,643. Insiders own 37.63% of the company’s stock.

Institutional Trading of Atlassian

Several hedge funds have recently bought and sold shares of TEAM. Fortitude Family Office LLC boosted its stake in Atlassian by 23.0% during the third quarter. Fortitude Family Office LLC now owns 289 shares of the technology company’s stock worth $52,000 after buying an additional 54 shares during the last quarter. Allworth Financial LP increased its stake in shares of Atlassian by 0.5% in the 3rd quarter. Allworth Financial LP now owns 16,055 shares of the technology company’s stock worth $2,879,000 after acquiring an additional 74 shares during the last quarter. Activest Wealth Management increased its stake in shares of Atlassian by 372.4% in the 3rd quarter. Activest Wealth Management now owns 137 shares of the technology company’s stock worth $25,000 after acquiring an additional 108 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Atlassian by 3.0% during the 3rd quarter. Parallel Advisors LLC now owns 3,851 shares of the technology company’s stock worth $690,000 after acquiring an additional 112 shares during the period. Finally, Greenleaf Trust raised its holdings in shares of Atlassian by 3.7% during the 3rd quarter. Greenleaf Trust now owns 3,225 shares of the technology company’s stock worth $578,000 after acquiring an additional 114 shares during the period. Institutional investors own 94.45% of the company’s stock.

Trending Headlines about Atlassian

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Fiscal Q1 revenue rose 23.7% year over year to $1.77 billion, while adjusted EPS of $1.65 topped the $1.39 consensus. Cloud revenue grew 30.5%, and the company reported stronger margins and free cash flow. Atlassian Q1 results
• Positive Sentiment: AI-related adoption showed momentum: Teamwork Collection customers grew sevenfold year over year, and remaining performance obligations increased 44%. Atlassian also guided to $7.5 billion in FY2027 revenue, above the $7.4 billion consensus. Q1 earnings call highlights
• Positive Sentiment: Piper Sandler raised its price target to $190 and kept an “overweight” rating, signaling continued optimism despite the post-earnings concerns. Piper Sandler target update
• Negative Sentiment: The main concern is deceleration: Atlassian expects next-quarter cloud growth of 27%, below Q1’s 30.5%, and increased its full-year cloud growth outlook only modestly, from 25.5% to 26%. Management cited timing-related Data Center revenue effects, dampening the impact of the quarterly beat. Cloud growth outlook
• Negative Sentiment: Several firms cut price targets, including Truist ($250 to $200), Wells Fargo ($270 to $200), and Oppenheimer ($275 to $240), though they maintained positive ratings. These reductions underscore investor concerns about growth expectations after the results. Truist rating update

About Atlassian

Atlassian Corporation develops collaboration, project-management and workflow software for technology, business and service teams. Its products are designed to help organizations plan projects, manage software development, coordinate work and share knowledge across departments.

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