Atlassian Corporation PLC (NASDAQ:TEAM) Receives $145.63 Consensus Target Price from Brokerages

Shares of Atlassian Corporation PLC (NASDAQ:TEAM) have been given a consensus rating of “Moderate Buy” by the twenty-eight brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $145.2593.

Several analysts have recently weighed in on TEAM shares. Raymond James Financial set a $130.00 price objective on shares of Atlassian in a research report on Friday, May 1st. BTIG Research raised their price objective on shares of Atlassian from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. BMO Capital Markets lowered their price objective on shares of Atlassian from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Thursday. Oppenheimer raised their price objective on shares of Atlassian from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Finally, Piper Sandler lowered their price objective on shares of Atlassian from $200.00 to $175.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st.

Atlassian Stock Performance

NASDAQ TEAM opened at $74.68 on Friday. Atlassian has a 1 year low of $56.01 and a 1 year high of $222.59. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $18.95 billion, a PE ratio of -89.98, a P/E/G ratio of 4.62 and a beta of 1.07. The company’s 50 day simple moving average is $84.99 and its two-hundred day simple moving average is $99.87.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.42. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The business’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.97 EPS. Analysts predict that Atlassian will post 0.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlassian

In related news, CRO Brian Duffy sold 3,000 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $89.71, for a total transaction of $269,130.00. Following the transaction, the executive owned 227,691 shares of the company’s stock, valued at approximately $20,426,159.61. This trade represents a 1.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James Chuong sold 8,838 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total transaction of $775,534.50. Following the transaction, the chief financial officer directly owned 288,272 shares in the company, valued at approximately $25,295,868. This represents a 2.97% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 20,041 shares of company stock worth $1,801,069. 36.66% of the stock is owned by insiders.

Hedge Funds Weigh In On Atlassian

Institutional investors and hedge funds have recently made changes to their positions in the business. MV Capital Management Inc. bought a new position in shares of Atlassian during the 4th quarter valued at $25,000. Western Wealth Management LLC bought a new position in shares of Atlassian during the 1st quarter valued at $30,000. State of Wyoming grew its holdings in shares of Atlassian by 65.7% during the 1st quarter. State of Wyoming now owns 449 shares of the technology company’s stock valued at $31,000 after purchasing an additional 178 shares during the last quarter. Board of the Pension Protection Fund bought a new position in shares of Atlassian during the 4th quarter valued at $32,000. Finally, Basepoint Wealth LLC bought a new position in shares of Atlassian during the 4th quarter valued at $32,000. Institutional investors own 94.45% of the company’s stock.

About Atlassian

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.