BMO Capital Markets Cuts Atlassian (NASDAQ:TEAM) Price Target to $151.00

Atlassian (NASDAQ:TEAMGet Rating) had its target price cut by BMO Capital Markets from $160.00 to $151.00 in a research report report published on Tuesday, The Fly reports.

A number of other research analysts also recently issued reports on the company. Robert W. Baird dropped their price target on Atlassian from $380.00 to $210.00 and set an outperform rating on the stock in a research note on Friday, November 4th. The Goldman Sachs Group cut their target price on shares of Atlassian from $300.00 to $265.00 and set a buy rating on the stock in a report on Friday, November 4th. Morgan Stanley decreased their price target on shares of Atlassian from $375.00 to $190.00 and set an overweight rating for the company in a research note on Friday, November 11th. Macquarie lowered shares of Atlassian from an outperform rating to a neutral rating and dropped their price objective for the company from $287.00 to $147.00 in a research note on Friday, November 4th. Finally, Citigroup decreased their target price on shares of Atlassian from $375.00 to $210.00 and set a buy rating for the company in a research note on Monday, November 7th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Atlassian presently has a consensus rating of Moderate Buy and an average target price of $248.53.

Atlassian Stock Up 0.7 %

TEAM stock opened at $141.00 on Tuesday. The stock has a market cap of $36.03 billion, a P/E ratio of -158.43 and a beta of 0.81. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 2.08. Atlassian has a twelve month low of $113.86 and a twelve month high of $399.10. The company’s 50 day moving average is $173.13 and its two-hundred day moving average is $201.42.

Atlassian (NASDAQ:TEAMGet Rating) last announced its quarterly earnings results on Thursday, November 3rd. The technology company reported $0.36 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.46. Atlassian had a negative net margin of 7.60% and a negative return on equity of 71.10%. The firm had revenue of $807.39 million for the quarter, compared to analyst estimates of $806.42 million. During the same period last year, the business earned ($0.01) EPS. Atlassian’s revenue for the quarter was up 31.5% compared to the same quarter last year. Research analysts expect that Atlassian will post -0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 8,614 shares of the stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $126.83, for a total value of $1,092,513.62. Following the completion of the transaction, the chief executive officer now owns 180,894 shares in the company, valued at approximately $22,942,786.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Michael Cannon-Brookes sold 8,614 shares of the business’s stock in a transaction that occurred on Wednesday, November 30th. The stock was sold at an average price of $126.83, for a total transaction of $1,092,513.62. Following the sale, the chief executive officer now owns 180,894 shares of the company’s stock, valued at approximately $22,942,786.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Cameron Deatsch sold 2,011 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $134.92, for a total value of $271,324.12. Following the completion of the transaction, the executive now directly owns 134,740 shares of the company’s stock, valued at $18,179,120.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 214,159 shares of company stock valued at $35,528,507. 43.11% of the stock is owned by company insiders.

Institutional Investors Weigh In On Atlassian

Several institutional investors and hedge funds have recently made changes to their positions in TEAM. Price T Rowe Associates Inc. MD raised its position in Atlassian by 8.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 22,693,727 shares of the technology company’s stock worth $4,252,805,000 after acquiring an additional 1,803,544 shares during the last quarter. Jennison Associates LLC raised its position in shares of Atlassian by 41.6% during the 3rd quarter. Jennison Associates LLC now owns 7,134,346 shares of the technology company’s stock worth $1,502,422,000 after purchasing an additional 2,095,358 shares during the last quarter. Sands Capital Management LLC lifted its stake in Atlassian by 6.5% in the 2nd quarter. Sands Capital Management LLC now owns 6,504,421 shares of the technology company’s stock valued at $1,218,928,000 after buying an additional 397,595 shares in the last quarter. WCM Investment Management LLC grew its holdings in Atlassian by 75.2% during the 3rd quarter. WCM Investment Management LLC now owns 5,879,895 shares of the technology company’s stock valued at $1,248,478,000 after buying an additional 2,523,053 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its position in Atlassian by 9.5% during the third quarter. Artisan Partners Limited Partnership now owns 5,695,486 shares of the technology company’s stock worth $1,199,412,000 after buying an additional 496,121 shares in the last quarter. 87.29% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Company Profile

(Get Rating)

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include Jira Software and Jira Work Management, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise organizations to build and manage a master plan that maps strategic projects to the various work streams required to deliver them; and Opsgenie, an incident management tool that enables IT teams to plan for and respond to service disruptions.

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