Atlassian Co. (NASDAQ:TEAM) Receives $318.43 Consensus Target Price from Brokerages

Atlassian Co. (NASDAQ:TEAM) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-four research firms that are covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $319.71.

A number of research analysts have issued reports on the stock. Barclays boosted their target price on shares of Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Mizuho increased their price objective on Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Cantor Fitzgerald raised their target price on Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Piper Sandler boosted their price target on Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Truist Financial reissued a “buy” rating and set a $350.00 price target (up from $300.00) on shares of Atlassian in a report on Friday, January 31st.

Insider Buying and Selling at Atlassian

In other news, CFO Joseph Leo Binz sold 1,674 shares of Atlassian stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $245.81, for a total transaction of $411,485.94. Following the completion of the sale, the chief financial officer now directly owns 171,929 shares in the company, valued at $42,261,867.49. The trade was a 0.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $239.19, for a total value of $1,901,082.12. Following the completion of the sale, the chief executive officer now directly owns 230,492 shares of the company’s stock, valued at approximately $55,131,381.48. The trade was a 3.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 256,705 shares of company stock valued at $67,890,023 in the last quarter. Company insiders own 38.55% of the company’s stock.

Institutional Trading of Atlassian

A number of institutional investors have recently added to or reduced their stakes in TEAM. Assetmark Inc. lifted its stake in shares of Atlassian by 30.6% in the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after purchasing an additional 41 shares during the last quarter. Allworth Financial LP raised its holdings in Atlassian by 3.1% during the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after buying an additional 47 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Atlassian by 22.9% in the fourth quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock worth $71,000 after buying an additional 54 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Atlassian by 4.0% during the 4th quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company’s stock worth $357,000 after acquiring an additional 56 shares in the last quarter. Finally, J.W. Cole Advisors Inc. increased its holdings in shares of Atlassian by 1.5% during the 4th quarter. J.W. Cole Advisors Inc. now owns 3,958 shares of the technology company’s stock valued at $963,000 after acquiring an additional 59 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Stock Up 2.8 %

NASDAQ:TEAM opened at $322.94 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.18 and a debt-to-equity ratio of 0.81. The stock has a 50 day moving average of $265.92 and a 200-day moving average of $213.45. The firm has a market capitalization of $84.61 billion, a PE ratio of -241.00 and a beta of 0.87. Atlassian has a 52 week low of $135.29 and a 52 week high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Analysts predict that Atlassian will post -0.34 EPS for the current year.

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.