Atlassian (NASDAQ:TEAM) Price Target Raised to $300.00

Atlassian (NASDAQ:TEAM) had its price target increased by Oppenheimer from $270.00 to $300.00 in a research note published on Monday,Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

A number of other equities research analysts have also issued reports on the stock. Macquarie assumed coverage on shares of Atlassian in a report on Thursday, December 12th. They set a “neutral” rating and a $290.00 target price for the company. Jefferies Financial Group lifted their price objective on shares of Atlassian from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Robert W. Baird boosted their price objective on Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Canaccord Genuity Group boosted their price target on shares of Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, Truist Financial upped their target price on Atlassian from $200.00 to $250.00 and gave the company a “hold” rating in a report on Thursday, December 12th. Nine investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $264.25.

Atlassian Trading Down 1.4 %

NASDAQ TEAM opened at $244.49 on Monday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The firm has a market cap of $63.67 billion, a PE ratio of -160.85 and a beta of 0.83. The company has a 50 day moving average price of $251.77 and a 200 day moving average price of $198.18. Atlassian has a 52 week low of $135.29 and a 52 week high of $287.97.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.07) earnings per share. As a group, sell-side analysts forecast that Atlassian will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling

In other Atlassian news, Director Heather Mirjahangir Fernandez sold 750 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $185.50, for a total value of $139,125.00. Following the sale, the director now owns 10,110 shares in the company, valued at approximately $1,875,405. This trade represents a 6.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $243.35, for a total transaction of $1,934,145.80. Following the transaction, the chief executive officer now directly owns 445,088 shares in the company, valued at approximately $108,312,164.80. The trade was a 1.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 277,350 shares of company stock valued at $64,990,352. Corporate insiders own 38.55% of the company’s stock.

Institutional Investors Weigh In On Atlassian

Several hedge funds and other institutional investors have recently bought and sold shares of the business. National Bank of Canada FI grew its position in Atlassian by 21.6% during the 2nd quarter. National Bank of Canada FI now owns 1,156 shares of the technology company’s stock worth $206,000 after purchasing an additional 205 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Atlassian by 1.3% during the second quarter. Victory Capital Management Inc. now owns 131,837 shares of the technology company’s stock valued at $23,319,000 after purchasing an additional 1,662 shares in the last quarter. Candriam S.C.A. lifted its holdings in shares of Atlassian by 11.7% during the second quarter. Candriam S.C.A. now owns 9,848 shares of the technology company’s stock valued at $1,742,000 after acquiring an additional 1,029 shares during the period. Asset Dedication LLC raised its position in Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after purchasing an additional 108 shares during the last quarter. Finally, Custom Index Systems LLC raised its stake in shares of Atlassian by 17.0% in the second quarter. Custom Index Systems LLC now owns 2,322 shares of the technology company’s stock worth $411,000 after acquiring an additional 337 shares during the last quarter. 94.45% of the stock is currently owned by 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.