Jefferies Financial Group Issues Positive Forecast for Atlassian (NASDAQ:TEAM) Stock Price

Atlassian (NASDAQ:TEAM) had its price target boosted by equities researchers at Jefferies Financial Group from $240.00 to $280.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 24.80% from the stock’s previous close.

TEAM has been the subject of several other reports. The Goldman Sachs Group upgraded Atlassian from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $200.00 to $230.00 in a report on Friday, August 2nd. Canaccord Genuity Group boosted their price target on shares of Atlassian from $200.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Baird R W downgraded shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. KeyCorp raised shares of Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price objective for the company in a research note on Friday. Finally, Scotiabank lowered their target price on Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and an average target price of $243.16.

Atlassian Price Performance

Shares of TEAM stock opened at $224.35 on Friday. The company’s 50-day simple moving average is $173.30 and its two-hundred day simple moving average is $171.30. 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 company has a market capitalization of $58.34 billion, a P/E ratio of -147.60 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the business posted ($0.21) EPS. Atlassian’s quarterly revenue was up 20.5% on a year-over-year basis. As a group, equities analysts anticipate that Atlassian will post -0.58 EPS for the current year.

Insider Activity

In related news, CTO Rajeev Bashyam Rajan sold 199 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $146.08, for a total value of $29,069.92. Following the completion of the transaction, the chief technology officer now owns 128,957 shares in the company, valued at $18,838,038.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CTO Rajeev Bashyam Rajan sold 199 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $146.08, for a total value of $29,069.92. Following the sale, the chief technology officer now owns 128,957 shares in the company, valued at $18,838,038.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Scott Farquhar sold 7,948 shares of the firm’s 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 transaction, the chief executive officer now directly owns 294,076 shares of the company’s stock, valued at $41,329,441.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 230,185 shares of company stock valued at $39,155,661 over the last ninety days. 38.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Atlassian

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lindbrook Capital LLC lifted its holdings in shares of Atlassian by 8.0% in the 3rd quarter. Lindbrook Capital LLC now owns 1,802 shares of the technology company’s stock valued at $286,000 after buying an additional 133 shares during the period. Verdence Capital Advisors LLC boosted its position in Atlassian by 88.8% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,503 shares of the technology company’s stock worth $556,000 after purchasing an additional 1,648 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Atlassian during the 3rd quarter worth approximately $103,000. AIA Group Ltd purchased a new position in shares of Atlassian during the 3rd quarter valued at approximately $1,598,000. Finally, Principal Financial Group Inc. lifted its stake in shares of Atlassian by 61.4% in the 3rd quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company’s stock valued at $1,710,000 after purchasing an additional 4,099 shares during the period. 93.03% of the stock is owned by institutional investors and hedge funds.

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.