Atlassian (NASDAQ:TEAM) Price Target Lowered to $230.00 at Robert W. Baird

Atlassian (NASDAQ:TEAM) had its price target decreased by investment analysts at Robert W. Baird from $270.00 to $230.00 in a report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s target price points to a potential upside of 28.17% from the stock’s current price.

A number of other equities analysts have also commented on TEAM. UBS Group cut their price objective on Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, February 2nd. KeyCorp began coverage on Atlassian in a report on Tuesday, March 19th. They issued a “sector weight” rating for the company. Truist Financial lifted their target price on Atlassian from $180.00 to $220.00 and gave the stock a “hold” rating in a report on Tuesday, January 16th. Barclays upgraded Atlassian from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $235.00 to $275.00 in a report on Thursday, April 11th. Finally, Mizuho lowered their target price on Atlassian from $240.00 to $225.00 and set a “buy” rating for the company in a report on Friday. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Atlassian currently has a consensus rating of “Hold” and a consensus price target of $223.22.

Atlassian Stock Performance

Shares of TEAM stock opened at $179.45 on Friday. The business’s 50-day moving average price is $199.98 and its 200-day moving average price is $206.54. Atlassian has a 12 month low of $128.02 and a 12 month high of $258.69. The firm has a market capitalization of $46.55 billion, a price-to-earnings ratio of -284.84 and a beta of 0.63. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Atlassian had a negative return on equity of 15.54% and a negative net margin of 3.90%. Equities research analysts forecast that Atlassian will post -0.4 EPS for the current year.

Insiders Place Their Bets

In other Atlassian news, President Anutthara Bharadwaj sold 4,139 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $881,068.93. Following the transaction, the president now owns 167,535 shares of the company’s stock, valued at $35,663,175.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Atlassian news, President Anutthara Bharadwaj sold 4,139 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $881,068.93. Following the transaction, the president now owns 167,535 shares of the company’s stock, valued at $35,663,175.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Gene Liu sold 227 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $48,321.49. Following the completion of the transaction, the chief accounting officer now directly owns 47,066 shares in the company, valued at approximately $10,018,939.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 300,450 shares of company stock valued at $61,721,553. Insiders own 40.48% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TEAM. Baillie Gifford & Co. lifted its position in shares of Atlassian by 20.7% during the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock valued at $2,094,980,000 after buying an additional 1,511,318 shares during the last quarter. Morgan Stanley lifted its holdings in Atlassian by 156.8% during the 3rd quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock worth $361,449,000 after purchasing an additional 1,095,297 shares in the last quarter. Norges Bank purchased a new stake in Atlassian during the 4th quarter worth about $247,740,000. Vanguard Group Inc. lifted its holdings in Atlassian by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after purchasing an additional 504,181 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Atlassian by 3.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,237,507 shares of the technology company’s stock worth $2,435,095,000 after purchasing an additional 326,673 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Company Profile

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.