Atlassian (NASDAQ:TEAM) Stock Price Target Lowered at Citigroup

Atlassian (NASDAQ:TEAM) had its price target dropped by stock analysts at Citigroup from $245.00 to $220.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Citigroup‘s price target would indicate a potential upside of 43.08% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Jefferies Financial Group cut their target price on Atlassian from $245.00 to $190.00 and set a “buy” rating on the stock in a research note on Friday. Wells Fargo & Company decreased their price target on Atlassian from $270.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday. KeyCorp boosted their price objective on Atlassian from $185.00 to $235.00 and gave the company an “overweight” rating in a report on Monday, October 19th. Robert W. Baird upped their price objective on Atlassian from $200.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, September 28th. Finally, TD Cowen increased their target price on Atlassian from $145.00 to $180.00 and gave the stock a “hold” rating in a research note on Tuesday, November 3rd. Twenty-four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $209.48.

Atlassian Trading Up 0.0%

NASDAQ TEAM traded up $0.07 on Monday, hitting $153.75. 1,919,584 shares of the stock were exchanged, compared to its average volume of 5,485,894. 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 $229.96. The firm has a market capitalization of $38.92 billion, a P/E ratio of 427.04, a P/E/G ratio of 17.13 and a beta of 1.16. The stock has a fifty day moving average price of $196.05 and a two-hundred day moving average price of $119.57.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, November 5th. The technology company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.26. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Atlassian had a net margin of 1.28% and a return on equity of 31.64%. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.04 EPS. Research analysts forecast that Atlassian will post 0.66 EPS for the current fiscal year.

Insider Activity

In other news, CFO James Chuong sold 9,054 shares of Atlassian 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 owned 279,218 shares of the company’s stock, valued at approximately $48,151,144.10. The trade was a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 1,851 shares of the business’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 value of $319,204.95. Following the completion of the sale, the executive owned 218,223 shares of the company’s stock, valued at $37,632,556.35. The trade was a 0.84% decrease in their position. 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 quarter, insiders sold 22,475 shares of company stock valued at $3,822,643. Corporate insiders own 37.63% of the company’s stock.

Institutional Investors Weigh In On Atlassian

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

Trending Headlines about Atlassian

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Barclays maintained an Overweight rating while reducing its price target from $222 to $210; that target implies about 35.9% upside from the cited $154.57 share price. Barclays stock recommendations
• Positive Sentiment: Truist reiterated its Buy rating, and another analyst raised a price target to $190, providing some support amid broader target revisions. Atlassian price target raised to $190
• Neutral Sentiment: Atlassian beat fiscal first-quarter 2027 estimates for revenue, earnings per share and cloud growth. However, analysts’ responses to the results and outlook were mixed. Atlassian tanks after huge run as guidance disappoints, but strength remains
• Negative Sentiment: The main concern is guidance that suggested growth may slow. The report says shares fell sharply after the outlook, indicating investors focused more on future growth than the quarterly beat. Atlassian tanks after huge run as guidance disappoints, but strength remains
• Negative Sentiment: Oppenheimer, Wells Fargo, BTIG and Jefferies cut their price targets, adding to concerns about the outlook despite some analysts maintaining positive ratings.

About Atlassian

Atlassian Corporation develops collaboration and productivity software for software, IT and business teams. Its products help organizations plan and track work, manage software development and support services, and share information across teams.

Its product portfolio includes Jira for project and issue tracking, Confluence for team documentation and collaboration, Jira Service Management for IT and other service teams, Trello for visual work management, and Bitbucket for code collaboration.