Analysts Set Atlassian Co. (NASDAQ:TEAM) Target Price at $318.43

Atlassian Co. (NASDAQ:TEAM) has been given an average rating of “Moderate Buy” by the twenty-four brokerages that are presently covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $319.71.

TEAM has been the topic of a number of research analyst reports. JMP Securities restated a “market perform” rating on shares of Atlassian in a research report on Friday, January 31st. Oppenheimer increased their price target on Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. KeyCorp upped their price objective on Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Macquarie upped their price objective on Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Finally, StockNews.com raised Atlassian from a “hold” rating to a “buy” rating in a report on Monday, February 3rd.

Insider Activity at Atlassian

In other Atlassian news, CAO Gene Liu sold 165 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $245.84, for a total transaction of $40,563.60. Following the completion of the sale, the chief accounting officer now directly owns 56,423 shares in the company, valued at $13,871,030.32. This trade represents a 0.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $239.19, for a total transaction of $1,901,082.12. Following the sale, the chief executive officer now owns 230,492 shares of the company’s stock, valued at $55,131,381.48. This trade represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 264,653 shares of company stock worth $70,451,743. Insiders own 38.55% of the company’s stock.

Institutional Investors Weigh In On Atlassian

Several hedge funds have recently bought and sold shares of TEAM. Sanctuary Advisors LLC acquired a new stake in shares of Atlassian in the second quarter valued at approximately $1,022,000. GAMMA Investing LLC boosted its stake in shares of Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after buying an additional 96 shares during the period. Azzad Asset Management Inc. ADV boosted its stake in shares of Atlassian by 100.5% in the third quarter. Azzad Asset Management Inc. ADV now owns 3,451 shares of the technology company’s stock valued at $548,000 after buying an additional 1,730 shares during the period. CWM LLC boosted its stake in shares of Atlassian by 270.6% in the third quarter. CWM LLC now owns 7,875 shares of the technology company’s stock valued at $1,251,000 after buying an additional 5,750 shares during the period. Finally, Perpetual Ltd acquired a new position in Atlassian during the third quarter valued at approximately $882,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Trading Up 1.1 %

TEAM stock opened at $318.45 on Thursday. Atlassian has a 1-year low of $135.29 and a 1-year high of $326.00. The firm has a market cap of $83.43 billion, a P/E ratio of -237.65 and a beta of 0.87. The business’s 50 day moving average is $267.99 and its 200-day moving average is $215.44. The company has a current ratio of 1.24, a quick ratio of 1.18 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data 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 17.37%. Equities analysts anticipate that Atlassian will post -0.34 earnings per share for the current fiscal year.

About Atlassian

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.