Atlassian (NASDAQ:TEAM) Shares Gap Down on Analyst Downgrade

Atlassian Corporation PLC (NASDAQ:TEAM) shares gapped down prior to trading on Friday after BTIG Research lowered their price target on the stock from $260.00 to $240.00. The stock had previously closed at $183.29, but opened at $154.92. BTIG Research currently has a buy rating on the stock. Atlassian shares last traded at $157.1230, with a volume of 1,505,711 shares traded.

TEAM has been the topic of a number of other research reports. Oppenheimer boosted their price target on shares of Atlassian from $200.00 to $275.00 and gave the company an “outperform” rating in a report on Thursday, October 22nd. Royal Bank Of Canada lifted their price objective on shares of Atlassian from $215.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, October 12th. KeyCorp boosted their target price on shares of Atlassian from $185.00 to $235.00 and gave the company an “overweight” rating in a research note on Monday, October 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Atlassian in a research report on Thursday, October 15th. Finally, Citigroup boosted their target price on Atlassian from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. Twenty-four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $217.56.

Insider Buying and Selling at Atlassian

In other news, CFO James Chuong sold 9,054 shares of Atlassian stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total value of $1,561,362.30. Following the transaction, the chief financial officer owned 279,218 shares of the company’s stock, valued at $48,151,144.10. This trade represents a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 7,617 shares of Atlassian stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $163.00, for a total transaction of $1,241,571.00. Following the completion of the transaction, the executive directly owned 220,074 shares in the company, valued at approximately $35,872,062. This represents a 3.35% 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. Insiders have sold a total of 22,475 shares of company stock worth $3,822,643 over the last 90 days. Insiders own 37.63% of the company’s stock.

Atlassian News Summary

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: For fiscal Q1 2027, Atlassian reported earnings of $1.65 per share, topping the $1.39 consensus, and revenue of $1.77 billion versus estimates of $1.71 billion. Revenue rose 23.7% year over year. The company also cited 44% growth in remaining performance obligations and a sevenfold increase in Teamwork Collection customers year over year. Atlassian Q1 fiscal 2027 results
• Positive Sentiment: Analyst views remained constructive: BTIG lowered its price target to $240 but kept a Buy rating, while Piper Sandler raised its target to $190 and maintained Overweight. BTIG Research ratings Piper Sandler ratings
• Neutral Sentiment: Management’s discussion of cloud-migration progress and AI monetization is a key focus for investors assessing whether new AI capabilities can translate into durable growth and revenue. Atlassian cloud migration and AI strategy
• Negative Sentiment: Despite beating quarterly estimates and issuing guidance described as above consensus, Atlassian’s stock dropped sharply after the report. Coverage pointed to concerns about the growth outlook and the possibility that strong results were not enough to meet elevated investor expectations. Atlassian Q3 CY2026 results and market reaction

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Fortitude Family Office LLC grew its position in shares of Atlassian by 23.0% in the third quarter. Fortitude Family Office LLC now owns 289 shares of the technology company’s stock valued at $52,000 after purchasing an additional 54 shares during the last quarter. Activest Wealth Management increased its stake in shares of Atlassian by 372.4% in the third quarter. Activest Wealth Management now owns 137 shares of the technology company’s stock worth $25,000 after purchasing an additional 108 shares during the period. Parallel Advisors LLC increased its stake in shares of Atlassian by 3.0% in the third quarter. Parallel Advisors LLC now owns 3,851 shares of the technology company’s stock worth $690,000 after purchasing an additional 112 shares during the period. Greenleaf Trust lifted its position in shares of Atlassian by 3.7% during the 3rd quarter. Greenleaf Trust now owns 3,225 shares of the technology company’s stock worth $578,000 after purchasing an additional 114 shares during the last quarter. Finally, Frank Rimerman Advisors LLC lifted its position in shares of Atlassian by 3.7% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 3,228 shares of the technology company’s stock worth $579,000 after purchasing an additional 115 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Stock Down 14.4%

The firm has a 50-day moving average of $196.69 and a two-hundred day moving average of $119.39. The firm has a market cap of $39.72 billion, a price-to-earnings ratio of -822.35, a PEG ratio of 20.25 and a beta of 1.16. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.93.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, November 5th. The technology company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.26. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.71 billion. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%. The company’s revenue was up 23.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.04 EPS. As a group, sell-side analysts predict that Atlassian Corporation PLC will post 0.69 earnings per share for the current fiscal year.

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.