Atlassian (NASDAQ:TEAM) Price Target Cut to $190.00 by Analysts at Jefferies Financial Group

Atlassian (NASDAQ:TEAM) had its price target lowered by Jefferies Financial Group from $245.00 to $190.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Jefferies Financial Group‘s price objective suggests a potential upside of 23.63% from the company’s current price.

TEAM has been the topic of several other research reports. Robert W. Baird raised their target price on Atlassian from $200.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, September 28th. Guggenheim set a $280.00 price target on Atlassian in a report on Friday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Atlassian in a research note on Thursday, October 15th. Cantor Fitzgerald raised their price objective on shares of Atlassian from $220.00 to $252.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Citigroup boosted their price objective on shares of Atlassian from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, October 20th. Twenty-four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $210.96.

Atlassian Stock Down 16.2%

Shares of TEAM stock traded down $29.61 during trading on Friday, reaching $153.68. The company’s stock had a trading volume of 7,474,600 shares, compared to its average volume of 5,503,001. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market capitalization of $38.90 billion, a price-to-earnings ratio of -808.84, a P/E/G ratio of 20.25 and a beta of 1.16. The stock’s 50-day moving average price is $196.69 and its 200 day moving average price is $119.39. Atlassian has a 1-year low of $56.01 and a 1-year high of $229.96.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, November 5th. The technology company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.26. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the firm earned $1.04 earnings per share. The business’s quarterly revenue was up 23.7% compared to the same quarter last year. On average, research analysts anticipate that Atlassian will post 0.69 EPS for the current year.

Insider Activity at Atlassian

In related news, CAO Gene Liu sold 337 shares of Atlassian stock in a transaction on Monday, October 12th. The stock was sold at an average price of $210.00, for a total transaction of $70,770.00. Following the completion of the transaction, the chief accounting officer directly owned 55,531 shares of the company’s stock, valued at approximately $11,661,510. The trade was a 0.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CRO Brian Duffy sold 1,851 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total value of $319,204.95. Following the completion of the transaction, the executive owned 218,223 shares of the company’s stock, valued at approximately $37,632,556.35. This represents a 0.84% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 22,475 shares of company stock worth $3,822,643 over the last three months. 37.63% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Atlassian

Several hedge funds have recently bought and sold shares of the stock. Carmignac Gestion grew its holdings 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 buying an additional 1,397,402 shares in the last quarter. KBC Group NV raised its position in shares of Atlassian by 1,691.2% in the 1st quarter. KBC Group NV now owns 1,440,019 shares of the technology company’s stock worth $98,281,000 after buying an additional 1,359,624 shares during the period. First Trust Advisors LP raised its holdings in shares of Atlassian by 48.4% in the 1st quarter. First Trust Advisors LP now owns 2,349,842 shares of the technology company’s stock worth $160,377,000 after purchasing an additional 766,922 shares during the period. Quantinno Capital Management LP lifted its position in Atlassian by 947.7% during the first quarter. Quantinno Capital Management LP now owns 283,427 shares of the technology company’s stock valued at $19,344,000 after buying an additional 256,374 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Atlassian by 111.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 469,100 shares of the technology company’s stock valued at $84,105,000 after acquiring an additional 247,540 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian News Roundup

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Fiscal Q1 revenue rose 23.7% year over year to $1.77 billion, while adjusted EPS of $1.65 topped the $1.39 consensus. Cloud revenue grew 30.5%, and the company reported stronger margins and free cash flow. Atlassian Q1 results
• Positive Sentiment: AI-related adoption showed momentum: Teamwork Collection customers grew sevenfold year over year, and remaining performance obligations increased 44%. Atlassian also guided to $7.5 billion in FY2027 revenue, above the $7.4 billion consensus. Q1 earnings call highlights
• Positive Sentiment: Piper Sandler raised its price target to $190 and kept an “overweight” rating, signaling continued optimism despite the post-earnings concerns. Piper Sandler target update
• Negative Sentiment: The main concern is deceleration: Atlassian expects next-quarter cloud growth of 27%, below Q1’s 30.5%, and increased its full-year cloud growth outlook only modestly, from 25.5% to 26%. Management cited timing-related Data Center revenue effects, dampening the impact of the quarterly beat. Cloud growth outlook
• Negative Sentiment: Several firms cut price targets, including Truist ($250 to $200), Wells Fargo ($270 to $200), and Oppenheimer ($275 to $240), though they maintained positive ratings. These reductions underscore investor concerns about growth expectations after the results. Truist rating update

Atlassian Company Profile

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.