Atlassian (NASDAQ:TEAM) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Atlassian (NASDAQ:TEAM) had its price target boosted by Jefferies Financial Group from $240.00 to $280.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s price target points to a potential upside of 24.80% from the company’s previous close.

A number of other analysts have also recently commented on the stock. BMO Capital Markets upped their target price on shares of Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a report on Friday. Piper Sandler raised their target price on Atlassian from $225.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday. Truist Financial cut their price target on Atlassian from $200.00 to $160.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Scotiabank decreased their price objective on Atlassian from $210.00 to $175.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. Finally, KeyCorp raised Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price objective on the stock in a research report on Friday. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $243.16.

Atlassian Stock Performance

Shares of TEAM opened at $224.35 on Friday. The firm has a market capitalization of $58.34 billion, a P/E ratio of -147.60 and a beta of 0.71. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian has a one year low of $135.29 and a one year high of $258.69. The business has a fifty day moving average of $173.30 and a 200 day moving average of $171.30.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. Atlassian had a negative return on equity of 23.38% and a negative net margin of 8.59%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the company posted ($0.21) EPS. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Atlassian will post -0.58 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $140.54, for a total transaction of $1,117,011.92. Following the completion of the transaction, the chief executive officer now directly owns 294,076 shares in the company, valued at approximately $41,329,441.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Scott Farquhar sold 7,948 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $140.54, for a total transaction of $1,117,011.92. Following the sale, the chief executive officer now directly owns 294,076 shares in the company, valued at approximately $41,329,441.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $188.79, for a total value of $143,480.40. Following the completion of the transaction, the president now owns 228,996 shares of the company’s stock, valued at approximately $43,232,154.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 230,185 shares of company stock valued at $39,155,661 in the last quarter. 38.55% of the stock is currently owned by insiders.

Institutional Trading of Atlassian

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC increased its position in Atlassian by 37.0% during the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after acquiring an additional 520 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Atlassian by 7.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,087 shares of the technology company’s stock valued at $27,723,000 after purchasing an additional 10,434 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in Atlassian by 2.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 175,350 shares of the technology company’s stock worth $34,213,000 after purchasing an additional 3,687 shares during the period. International Assets Investment Management LLC bought a new stake in Atlassian in the third quarter worth about $97,350,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Atlassian during the second quarter valued at approximately $12,846,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

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.