Atlassian (NASDAQ:TEAM) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Atlassian (NASDAQ:TEAM) from a hold rating to a buy rating in a report released on Monday morning.

Several other research firms have also recently weighed in on TEAM. Cantor Fitzgerald raised their target price on shares of Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a research note on Friday. The Goldman Sachs Group lifted their price objective on shares of Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday. Jefferies Financial Group lifted their price objective on shares of Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Mizuho lifted their price objective on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, UBS Group lifted their price objective on shares of Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a research note on Friday. Eight investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus price target of $318.43.

Atlassian Stock Up 1.5 %

Shares of TEAM stock opened at $311.40 on Monday. The company has a market capitalization of $81.10 billion, a price-to-earnings ratio of -232.39 and a beta of 0.87. Atlassian has a one year low of $135.29 and a one year high of $324.37. The company’s fifty day moving average price is $260.51 and its 200-day moving average price is $208.44. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 18.00%. Sell-side analysts expect that Atlassian will post -0.55 EPS for the current fiscal year.

Insider Activity

In other Atlassian news, CAO Gene Liu sold 445 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $230.00, for a total transaction of $102,350.00. Following the sale, the chief accounting officer now owns 58,723 shares of the company’s stock, valued at approximately $13,506,290. The trade was a 0.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $237.04, for a total transaction of $1,883,993.92. Following the sale, the director now directly owns 278,180 shares in the company, valued at approximately $65,939,787.20. This represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 257,935 shares of company stock worth $66,276,511. 38.55% of the stock is currently owned by corporate insiders.

Institutional Trading of Atlassian

Large investors have recently made changes to their positions in the business. Avion Wealth boosted its holdings in shares of Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after acquiring an additional 157 shares during the last quarter. True Wealth Design LLC boosted its holdings in shares of Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after acquiring an additional 231 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Atlassian in the 4th quarter valued at $56,000. GAMMA Investing LLC boosted its holdings in shares of Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after acquiring an additional 96 shares during the last quarter. Finally, Reston Wealth Management LLC purchased a new stake in shares of Atlassian in the 3rd quarter valued at $48,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Company Profile

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.