Atlassian Co. (NASDAQ:TEAM) Receives Average Rating of “Moderate Buy” from Analysts

Atlassian Co. (NASDAQ:TEAM) has been assigned a consensus rating of “Moderate Buy” from the twenty-three research firms that are presently covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $270.65.

Several research analysts have recently commented on the company. BMO Capital Markets raised Atlassian from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $255.00 to $292.00 in a research report on Friday, January 10th. KeyCorp boosted their target price on shares of Atlassian from $260.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Scotiabank increased their price target on shares of Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. Macquarie started coverage on shares of Atlassian in a research report on Thursday, December 12th. They issued a “neutral” rating and a $290.00 price objective on the stock. Finally, Robert W. Baird increased their target price on shares of Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, November 1st.

Atlassian Stock Performance

Shares of Atlassian stock opened at $254.25 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The stock’s fifty day moving average price is $256.07 and its 200-day moving average price is $201.44. Atlassian has a 12 month low of $135.29 and a 12 month high of $287.97.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm posted ($0.07) EPS. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. On average, analysts expect that Atlassian will post -0.55 earnings per share for the current year.

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 15,896 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the completion of the transaction, the chief executive officer now directly owns 429,192 shares in the company, valued at $104,529,711.60. The trade was a 3.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Gene Liu sold 1,024 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $225.45, for a total value of $230,860.80. Following the sale, the chief accounting officer now directly owns 59,168 shares in the company, valued at $13,339,425.60. This represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 270,668 shares of company stock valued at $65,408,691. Company insiders own 38.55% of the company’s stock.

Institutional Trading of Atlassian

A number of hedge funds have recently modified their holdings of TEAM. Baillie Gifford & Co. lifted its holdings in Atlassian by 0.9% in the third quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock valued at $1,352,115,000 after acquiring an additional 78,454 shares during the period. State Street Corp increased its holdings in shares of Atlassian by 0.3% during the 3rd quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock valued at $565,424,000 after purchasing an additional 8,957 shares in the last quarter. Dragoneer Investment Group LLC acquired a new position in shares of Atlassian in the 2nd quarter valued at $469,803,000. JPMorgan Chase & Co. boosted its holdings in Atlassian by 5.6% during the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock worth $393,588,000 after buying an additional 131,621 shares in the last quarter. Finally, FMR LLC grew its position in Atlassian by 7.4% during the third quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock valued at $346,679,000 after buying an additional 150,237 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

About Atlassian

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.