Atlassian (NASDAQ:TEAM) Given New $190.00 Price Target at Piper Sandler

Atlassian (NASDAQ:TEAM) had its target price hoisted by Piper Sandler from $175.00 to $190.00 in a research report report published on Friday morning, Marketbeat Ratings reports. Piper Sandler currently has an overweight rating on the technology company’s stock.

Several other analysts also recently commented on the stock. TD Cowen increased their price objective on shares of Atlassian from $145.00 to $180.00 and gave the company a “hold” rating in a research report on Tuesday. UBS Group reaffirmed a “buy” rating on shares of Atlassian in a report on Friday. Barclays upped their target price on shares of Atlassian from $172.00 to $222.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 13th. Bank of America increased their price target on shares of Atlassian from $175.00 to $210.00 and gave the company a “buy” rating in a report on Monday, August 31st. Finally, Wall Street Zen raised Atlassian from a “hold” rating to a “buy” rating in a research report on Sunday, September 13th. Twenty-four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Atlassian has an average rating of “Moderate Buy” and a consensus price target of $210.96.

Atlassian Stock Down 16.2%

Shares of TEAM traded down $29.61 during mid-day trading on Friday, reaching $153.68. The company had a trading volume of 7,474,600 shares, compared to its average volume of 2,508,672. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market capitalization of $38.90 billion, a price-to-earnings ratio of 426.90, a price-to-earnings-growth ratio of 19.95 and a beta of 1.16. The firm has a 50-day moving average price of $196.05 and a 200 day moving average price of $119.57. Atlassian has a 52 week low of $56.01 and a 52 week high of $229.96.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data 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. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the business earned $1.04 earnings per share. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. On average, sell-side analysts forecast that Atlassian will post 0.69 EPS for the current year.

Insider Buying and Selling at Atlassian

In related news, CAO Gene Liu sold 1,125 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $175.00, for a total transaction of $196,875.00. Following the transaction, the chief accounting officer owned 56,807 shares in the company, valued at $9,941,225. This represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Brian Duffy sold 7,617 shares of the 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 transaction, the executive owned 220,074 shares in the company, valued at approximately $35,872,062. This trade 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. In the last 90 days, insiders have sold 22,475 shares of company stock worth $3,822,643. Company insiders own 37.63% of the company’s stock.

Institutional Investors Weigh In On Atlassian

A number of hedge funds have recently added to or reduced their stakes in the stock. Activest Wealth Management lifted its holdings in shares of Atlassian by 372.4% during the 3rd quarter. Activest Wealth Management now owns 137 shares of the technology company’s stock valued at $25,000 after buying an additional 108 shares during the period. Reyes Financial Architecture Inc. purchased a new position in shares of Atlassian in the 3rd quarter worth $49,000. Fortitude Family Office LLC grew its holdings 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 worth $52,000 after acquiring an additional 54 shares during the period. Physician Wealth Advisors Inc. grew its holdings in shares of Atlassian by 142.4% in the third quarter. Physician Wealth Advisors Inc. now owns 337 shares of the technology company’s stock worth $60,000 after acquiring an additional 198 shares during the period. Finally, Manning & Napier Advisors LLC bought a new stake in shares of Atlassian in the second quarter worth $27,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Key Atlassian News

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Fiscal Q1 revenue rose 23.7% year over year to $1.77 billion, while adjusted EPS of $1.65 topped the $1.39 consensus. Cloud revenue grew 30.5%, and the company reported stronger margins and free cash flow. Atlassian Q1 results
• Positive Sentiment: AI-related adoption showed momentum: Teamwork Collection customers grew sevenfold year over year, and remaining performance obligations increased 44%. Atlassian also guided to $7.5 billion in FY2027 revenue, above the $7.4 billion consensus. Q1 earnings call highlights
• Positive Sentiment: Piper Sandler raised its price target to $190 and kept an “overweight” rating, signaling continued optimism despite the post-earnings concerns. Piper Sandler target update
• Negative Sentiment: The main concern is deceleration: Atlassian expects next-quarter cloud growth of 27%, below Q1’s 30.5%, and increased its full-year cloud growth outlook only modestly, from 25.5% to 26%. Management cited timing-related Data Center revenue effects, dampening the impact of the quarterly beat. Cloud growth outlook
• Negative Sentiment: Several firms cut price targets, including Truist ($250 to $200), Wells Fargo ($270 to $200), and Oppenheimer ($275 to $240), though they maintained positive ratings. These reductions underscore investor concerns about growth expectations after the results. Truist rating update

About Atlassian

Atlassian Corporation develops collaboration and productivity software for software, IT and business teams. Its products help organizations plan and track work, manage software development and support services, and share information across teams.

Its product portfolio includes Jira for project and issue tracking, Confluence for team documentation and collaboration, Jira Service Management for IT and other service teams, Trello for visual work management, and Bitbucket for code collaboration.