Atlassian Corporation PLC (NASDAQ:TEAM) Stock Has Consensus Target Price of $213.35

Shares of Atlassian Corporation PLC (NASDAQ:TEAM) have been given a consensus rating of “Moderate Buy” by the twenty-eight ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-three have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $215.08.

Several research analysts have weighed in on TEAM shares. BTIG Research increased their price target on shares of Atlassian from $230.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, October 20th. Morgan Stanley lifted their price target on shares of Atlassian from $120.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Barclays boosted their price objective on shares of Atlassian from $172.00 to $222.00 and gave the company an “overweight” rating in a research report on Tuesday, October 13th. Wall Street Zen upgraded Atlassian from a “hold” rating to a “buy” rating in a research note on Sunday, September 13th. Finally, Truist Financial upped their price objective on Atlassian from $185.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 21st.

Insider Activity at Atlassian

In other Atlassian news, CRO Brian Duffy sold 7,617 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $163.00, for a total transaction of $1,241,571.00. Following the completion of the sale, the executive owned 220,074 shares of the company’s stock, valued at approximately $35,872,062. The trade was a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Gene Liu sold 1,125 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $175.00, for a total value of $196,875.00. Following the sale, the chief accounting officer directly owned 56,807 shares of the company’s stock, valued at $9,941,225. This represents a 1.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 22,475 shares of company stock worth $3,822,643. Corporate insiders own 37.63% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Activest Wealth Management lifted its stake in Atlassian by 372.4% in the 3rd quarter. Activest Wealth Management now owns 137 shares of the technology company’s stock worth $25,000 after purchasing an additional 108 shares in the last quarter. Reyes Financial Architecture Inc. bought a new position in shares of Atlassian during the 3rd quarter valued at about $49,000. Fortitude Family Office LLC boosted its holdings in shares of Atlassian by 23.0% during the 3rd quarter. Fortitude Family Office LLC now owns 289 shares of the technology company’s stock valued at $52,000 after purchasing an additional 54 shares during the last quarter. Physician Wealth Advisors Inc. boosted its holdings in shares of Atlassian by 142.4% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 337 shares of the technology company’s stock valued at $60,000 after purchasing an additional 198 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Atlassian during the second quarter valued at about $27,000. 94.45% of the stock is currently owned by institutional investors.

Atlassian Price Performance

NASDAQ TEAM opened at $191.72 on Friday. The company has a 50-day moving average price of $195.23 and a 200-day moving average price of $118.22. Atlassian has a 52 week low of $56.01 and a 52 week high of $229.96. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $48.53 billion, a P/E ratio of -1,009.05, a PEG ratio of 21.76 and a beta of 1.22.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Friday, August 7th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.37. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.66 billion. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. The firm’s revenue was up 27.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 earnings per share. Equities research analysts anticipate that Atlassian will post 0.69 earnings per share for the current year.

About Atlassian

Atlassian Corporation develops collaboration, project-management and workflow software for technology, business and service teams. Its products are designed to help organizations plan projects, manage software development, coordinate work and share knowledge across departments.

Its product portfolio includes Jira for project and issue tracking, Confluence for team collaboration and knowledge management, Jira Service Management for IT and enterprise service workflows, Trello for organizing tasks and projects, Loom for video messaging and screen recording, and Bitbucket for source-code management and collaboration.