Atlassian (TEAM) – Analysts’ Recent Ratings Changes

Atlassian (NASDAQ: TEAM) has recently received a number of price target changes and ratings updates:

• 11/1/2024 – Atlassian had its price target raised by analysts at Scotiabank from $175.00 to $250.00. They now have a “sector perform” rating on the stock.
• 11/1/2024 – Atlassian had its price target raised by analysts at Wells Fargo & Company from $250.00 to $300.00. They now have an “overweight” rating on the stock.
• 11/1/2024 – Atlassian had its price target raised by analysts at Piper Sandler from $225.00 to $265.00. They now have an “overweight” rating on the stock.
• 11/1/2024 – Atlassian was upgraded by analysts at KeyCorp from a “sector weight” rating to an “overweight” rating. They now have a $260.00 price target on the stock.
• 11/1/2024 – Atlassian had its price target raised by analysts at Mizuho from $200.00 to $240.00. They now have an “outperform” rating on the stock.
• 11/1/2024 – Atlassian had its price target raised by analysts at Raymond James from $200.00 to $250.00. They now have an “outperform” rating on the stock.
• 11/1/2024 – Atlassian had its price target raised by analysts at Oppenheimer Holdings Inc. from $230.00 to $270.00. They now have an “outperform” rating on the stock.
• 11/1/2024 – Atlassian had its price target raised by analysts at Robert W. Baird from $175.00 to $200.00. They now have a “neutral” rating on the stock.
• 11/1/2024 – Atlassian had its price target raised by analysts at BMO Capital Markets from $177.00 to $255.00. They now have a “market perform” rating on the stock.
• 11/1/2024 – Atlassian had its price target raised by analysts at Truist Financial Co. from $160.00 to $200.00. They now have a “hold” rating on the stock.
• 11/1/2024 – Atlassian had its price target raised by analysts at Canaccord Genuity Group Inc. from $225.00 to $255.00. They now have a “buy” rating on the stock.
• 11/1/2024 – Atlassian had its price target raised by analysts at Jefferies Financial Group Inc. from $240.00 to $280.00. They now have a “buy” rating on the stock.
• 10/22/2024 – Atlassian had its price target raised by analysts at UBS Group AG from $180.00 to $205.00. They now have a “neutral” rating on the stock.
• 10/17/2024 – Atlassian had its price target raised by analysts at Mizuho from $190.00 to $200.00. They now have an “outperform” rating on the stock.
• 10/11/2024 – Atlassian had its price target raised by analysts at Morgan Stanley from $216.00 to $224.00. They now have an “overweight” rating on the stock.
• 10/10/2024 – Atlassian had its price target raised by analysts at Canaccord Genuity Group Inc. from $200.00 to $225.00. They now have a “buy” rating on the stock.
• 10/1/2024 – Atlassian was upgraded by analysts at Raymond James from a “market perform” rating to an “outperform” rating. They now have a $200.00 price target on the stock.
• 9/23/2024 – Atlassian had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $230.00 price target on the stock.

Atlassian Price Performance

Shares of Atlassian stock traded up $9.58 on Thursday, hitting $235.15. The company had a trading volume of 1,988,391 shares, compared to its average volume of 1,841,686. The business has a 50-day simple moving average of $176.79 and a 200-day simple moving average of $171.90. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market cap of $61.15 billion, a PE ratio of -154.70 and a beta of 0.71. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $258.69.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the firm earned ($0.07) EPS. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. Research analysts expect that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Insider Activity at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 4,560 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $225.45, for a total value of $1,028,052.00. Following the sale, the president now directly owns 224,436 shares in the company, valued at $50,599,096.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $219.07, for a total value of $1,741,168.36. Following the completion of the sale, the director now owns 309,972 shares in the company, valued at approximately $67,905,566.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Anutthara Bharadwaj sold 4,560 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $225.45, for a total transaction of $1,028,052.00. Following the completion of the sale, the president now owns 224,436 shares of the company’s stock, valued at $50,599,096.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 237,269 shares of company stock worth $42,006,228. 38.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Atlassian

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Atlassian by 1.4% in the first quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock valued at $3,039,287,000 after buying an additional 221,650 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Atlassian by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after purchasing an additional 904,138 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of Atlassian by 0.9% in the third quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock worth $1,352,115,000 after purchasing an additional 78,454 shares in the last quarter. Dragoneer Investment Group LLC bought a new stake in shares of Atlassian in the second quarter worth $469,803,000. Finally, Capital International Investors lifted its position in shares of Atlassian by 6.3% in the first quarter. Capital International Investors now owns 2,436,567 shares of the technology company’s stock worth $475,399,000 after purchasing an additional 144,117 shares in the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

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.