Atlassian (NASDAQ:TEAM) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Atlassian (NASDAQ:TEAM) from a hold rating to a buy rating in a research report report published on Monday morning.

Other research analysts have also issued research reports about the company. UBS Group lowered their price target on Atlassian from $260.00 to $250.00 and set a neutral rating on the stock in a research report on Friday, February 2nd. Mizuho lowered their price target on Atlassian from $240.00 to $225.00 and set a buy rating on the stock in a research report on Friday. TD Cowen decreased their target price on Atlassian from $220.00 to $210.00 and set a hold rating on the stock in a report on Friday. Oppenheimer decreased their target price on Atlassian from $300.00 to $250.00 and set an outperform rating on the stock in a report on Friday. Finally, Wells Fargo & Company boosted their target price on Atlassian from $275.00 to $285.00 and gave the stock an overweight rating in a report on Wednesday, January 24th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $223.22.

Atlassian Trading Down 1.3 %

NASDAQ TEAM opened at $177.07 on Monday. The stock’s 50 day moving average price is $199.36 and its two-hundred day moving average price is $206.52. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07. Atlassian has a 52 week low of $128.02 and a 52 week high of $258.69.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.27. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. Atlassian had a negative return on equity of 15.54% and a negative net margin of 3.90%. The business’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.40) EPS. As a group, research analysts forecast that Atlassian will post -0.42 earnings per share for the current year.

Insider Activity at Atlassian

In other news, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $251.76, for a total transaction of $2,074,754.16. Following the completion of the sale, the chief executive officer now directly owns 329,640 shares in the company, valued at approximately $82,990,166.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $251.76, for a total transaction of $2,074,754.16. Following the completion of the sale, the chief executive officer now directly owns 329,640 shares in the company, valued at approximately $82,990,166.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Rajeev Bashyam Rajan sold 872 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total value of $185,622.64. Following the sale, the chief technology officer now owns 142,103 shares of the company’s stock, valued at $30,249,465.61. The disclosure for this sale can be found here. Insiders sold 300,450 shares of company stock worth $61,106,939 in the last ninety days. 40.48% of the stock is owned by company insiders.

Institutional Trading of Atlassian

A number of institutional investors have recently modified their holdings of TEAM. OFI Invest Asset Management bought a new stake in shares of Atlassian during the 3rd quarter valued at $26,000. Carmel Capital Partners LLC lifted its position in shares of Atlassian by 28.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after buying an additional 57 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Atlassian by 271.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after buying an additional 271 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Atlassian by 255.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock worth $96,000 after buying an additional 291 shares during the last quarter. Finally, Operose Advisors LLC bought a new stake in shares of Atlassian during the 3rd quarter worth $99,000. 93.03% of the stock is currently owned by institutional investors.

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.