Atlassian (NASDAQ:TEAM) Given New $160.00 Price Target at Truist Financial

Atlassian (NASDAQ:TEAM) had its price objective upped by Truist Financial from $100.00 to $160.00 in a research report released on Friday morning, Marketbeat Ratings reports. Truist Financial currently has a buy rating on the technology company’s stock.

A number of other equities research analysts have also recently commented on TEAM. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $126.00 price objective on shares of Atlassian in a research note on Monday. UBS Group decreased their target price on shares of Atlassian from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Canaccord Genuity Group lowered their price target on shares of Atlassian from $185.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Zacks Research lowered shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Atlassian in a report on Friday, July 17th. Twenty-three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $172.88.

Atlassian Stock Up 35.3%

Shares of TEAM opened at $149.07 on Friday. Atlassian has a 52 week low of $56.01 and a 52 week high of $184.00. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $37.83 billion, a price-to-earnings ratio of -784.58, a PEG ratio of 7.91 and a beta of 1.05. The stock’s 50-day moving average price is $93.01 and its 200-day moving average price is $86.92.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, August 6th. The technology company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.50 by $0.37. Atlassian had a positive return on equity of 20.07% and a negative net margin of 0.82%.The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the company earned $0.98 earnings per share. Atlassian’s revenue for the quarter was up 27.6% compared to the same quarter last year. On average, sell-side analysts predict that Atlassian will post 0.67 EPS for the current year.

Insider Activity at Atlassian

In related news, CFO James Chuong sold 8,838 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total value of $775,534.50. Following the completion of the sale, the chief financial officer owned 288,272 shares of the company’s stock, valued at approximately $25,295,868. The trade was a 2.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 3,000 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $89.71, for a total transaction of $269,130.00. Following the transaction, the executive owned 227,691 shares of the company’s stock, valued at $20,426,159.61. This represents a 1.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 20,041 shares of company stock valued at $1,801,069. Corporate insiders own 36.66% of the company’s stock.

Institutional Trading of Atlassian

A number of institutional investors and hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC raised its holdings in shares of Atlassian by 291.4% during the fourth quarter. AQR Capital Management LLC now owns 7,749,694 shares of the technology company’s stock valued at $1,256,535,000 after acquiring an additional 5,769,788 shares during the last quarter. Norges Bank acquired a new stake in shares of Atlassian in the fourth quarter worth approximately $323,526,000. Morgan Stanley boosted its stake in shares of Atlassian by 52.4% in the fourth quarter. Morgan Stanley now owns 4,822,007 shares of the technology company’s stock worth $781,841,000 after acquiring an additional 1,657,309 shares during the last quarter. Carmignac Gestion increased its position in shares of Atlassian by 115.8% during the first quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company’s stock worth $177,707,000 after purchasing an additional 1,397,402 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Atlassian by 1,691.2% during the first quarter. KBC Group NV now owns 1,440,019 shares of the technology company’s stock worth $98,281,000 after purchasing an additional 1,359,624 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian News Summary

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Results exceeded expectations: Atlassian reported adjusted earnings of $1.87 per share, versus the $1.50 consensus estimate, while revenue rose 27.6% year over year to $1.77 billion, ahead of the $1.66 billion forecast. Atlassian beats quarterly estimates on strong cloud demand
• Positive Sentiment: Cloud and enterprise momentum supported the rally: Cloud revenue grew 31% to $1.21 billion, Data Center revenue topped estimates, and the company cited record large enterprise contracts, strong subscription demand and rising adoption of its AI-powered Rovo platform. TEAM Q4 Earnings Call Highlights AI and Enterprise Momentum
• Positive Sentiment: Fiscal 2027 guidance was viewed favorably: Management’s cloud revenue outlook exceeded expectations, and first-quarter revenue guidance of approximately $1.7 billion was above or in line with consensus, reinforcing confidence in continued growth. Atlassian earnings beat drives 30% stock surge
• Positive Sentiment: Analyst support strengthened: Bank of America upgraded TEAM to Buy with a $175 target, while BMO raised its target to $175 and Oppenheimer lifted its target to $200 with an Outperform rating. Unusually heavy call-option activity also reflected bullish near-term positioning.
• Neutral Sentiment: Atlassian’s results were interpreted as a potential turning point for software stocks broadly, suggesting investors may again be rewarding solid fundamentals despite AI-disruption concerns. Software Stocks Trade Like It’s 2022 After Atlassian Leads Earnings Rally
• Negative Sentiment: The company still faces external uncertainty, and the sharp rebound leaves TEAM trading near the upper end of its recent range, increasing the risk of profit-taking if cloud growth or AI adoption slows.

About Atlassian

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.