Atlassian Co. (NASDAQ:TEAM) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Atlassian Co. (NASDAQ:TEAM) have earned a consensus recommendation of “Moderate Buy” from the twenty-four analysts that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, nineteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $285.29.

A number of research analysts have commented on TEAM shares. Barclays decreased their price target on Atlassian from $350.00 to $260.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Wells Fargo & Company decreased their target price on Atlassian from $330.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. UBS Group dropped their target price on Atlassian from $230.00 to $215.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Raymond James reissued an “outperform” rating and set a $300.00 price target (down previously from $330.00) on shares of Atlassian in a research report on Friday, May 2nd. Finally, JMP Securities reissued a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st.

Insider Activity

In other news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $206.57, for a total transaction of $1,641,818.36. Following the transaction, the director now directly owns 71,532 shares in the company, valued at approximately $14,776,365.24. This trade represents a 10.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Anutthara Bharadwaj sold 7,674 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total transaction of $1,730,563.74. Following the transaction, the president now directly owns 192,260 shares in the company, valued at $43,356,552.60. The trade was a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 302,951 shares of company stock worth $67,006,971. 38.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Atlassian

Several hedge funds have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA purchased a new stake in Atlassian during the 4th quarter valued at approximately $687,486,000. Voya Investment Management LLC increased its holdings in shares of Atlassian by 17,941.0% in the fourth quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company’s stock valued at $528,693,000 after purchasing an additional 2,160,810 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Atlassian by 72.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock worth $1,042,737,000 after purchasing an additional 1,806,042 shares during the last quarter. Invesco Ltd. raised its stake in shares of Atlassian by 265.9% during the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company’s stock worth $595,171,000 after purchasing an additional 1,777,179 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Atlassian during the first quarter worth $327,665,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Stock Performance

Shares of Atlassian stock opened at $206.82 on Friday. The business’s fifty day simple moving average is $213.08 and its 200-day simple moving average is $246.97. Atlassian has a 52 week low of $135.29 and a 52 week high of $326.00. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The firm has a market cap of $54.29 billion, a PE ratio of -154.34 and a beta of 1.06.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period last year, the business earned $0.89 earnings per share. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities analysts forecast that Atlassian will post -0.34 earnings per share for the current year.

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.