Atlassian Corporation PLC (NASDAQ:TEAM) Stock Has Average Target Price of $191.56

Shares of Atlassian Corporation PLC (NASDAQ:TEAM) have received an average rating of “Moderate Buy” from the thirty ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-five have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $191.56.

Several analysts have recently issued reports on the company. Robert W. Baird upped their price target on Atlassian from $200.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday. Citizens Jmp restated a “market perform” rating on shares of Atlassian in a report on Wednesday, July 1st. UBS Group upped their target price on Atlassian from $95.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Mizuho set a $215.00 price target on Atlassian in a report on Monday, September 14th. Finally, Barclays lifted their price target on shares of Atlassian from $112.00 to $172.00 and gave the company an “overweight” rating in a research report on Monday, August 10th.

Insider Buying and Selling

In related news, CFO James Chuong sold 9,054 shares of Atlassian stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total value of $1,561,362.30. Following the transaction, the chief financial officer owned 279,218 shares in the company, valued at $48,151,144.10. This trade represents a 3.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 7,617 shares of the business’s stock in a transaction on 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 transaction, the executive directly owned 220,074 shares of the company’s stock, valued at approximately $35,872,062. This represents a 3.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 22,138 shares of company stock worth $3,751,873 in the last quarter. 36.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Atlassian

Large investors have recently made changes to their positions in the business. MV Capital Management Inc. acquired a new position in Atlassian during the 4th quarter valued at $25,000. Manning & Napier Advisors LLC acquired a new stake in Atlassian in the 2nd quarter worth $27,000. MassMutual Private Wealth & Trust FSB grew its position in Atlassian by 139.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 378 shares of the technology company’s stock worth $29,000 after purchasing an additional 220 shares during the last quarter. Western Wealth Management LLC bought a new position in Atlassian during the first quarter worth about $30,000. Finally, State of Wyoming lifted its stake in Atlassian by 65.7% during the first quarter. State of Wyoming now owns 449 shares of the technology company’s stock worth $31,000 after purchasing an additional 178 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Stock Performance

Shares of TEAM opened at $189.91 on Tuesday. The firm has a market cap of $48.19 billion, a price-to-earnings ratio of -999.53, a price-to-earnings-growth ratio of 14.09 and a beta of 1.22. The company’s fifty day moving average is $163.65 and its 200-day moving average is $110.30. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.93. Atlassian has a 12 month low of $56.01 and a 12 month high of $200.00.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Friday, August 7th. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.37. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.66 billion. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. Atlassian’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.98 EPS. Equities analysts expect that Atlassian will post 0.94 EPS for the current fiscal year.

About Atlassian

Atlassian Corporation develops collaboration, productivity and workflow-management software for technology, business and enterprise teams. Its products are designed to help organizations plan projects, manage software development, document and share knowledge, provide IT and customer support, and coordinate work across distributed teams.

Its product portfolio includes Jira for project and issue management, Confluence for team collaboration and knowledge sharing, Jira Service Management for IT service and support operations, and Trello for organizing tasks and projects.