Atlassian Co. (NASDAQ:TEAM) Given Consensus Recommendation of “Moderate Buy” by Analysts

Atlassian Co. (NASDAQ:TEAM) has received an average rating of “Moderate Buy” from the twenty brokerages that are currently covering the firm, MarketBeat.com reports. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $223.22.

A number of analysts have weighed in on TEAM shares. Wells Fargo & Company increased their target price on shares of Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a report on Friday, February 2nd. StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a report on Monday, April 29th. Canaccord Genuity Group dropped their price objective on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Finally, Citigroup decreased their target price on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a research report on Friday, April 12th.

Insider Activity

In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $183.51, for a total transaction of $1,512,305.91. Following the sale, the chief executive officer now owns 308,763 shares in the company, valued at $56,661,098.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $200.00, for a total value of $152,000.00. Following the completion of the transaction, the president now directly owns 161,850 shares of the company’s stock, valued at $32,370,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $183.51, for a total value of $1,512,305.91. Following the completion of the transaction, the chief executive officer now directly owns 308,763 shares of the company’s stock, valued at $56,661,098.13. The disclosure for this sale can be found here. Insiders have sold a total of 300,450 shares of company stock valued at $59,897,078 over the last 90 days. 40.48% of the stock is currently owned by company insiders.

Institutional Trading of Atlassian

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Graypoint LLC raised its holdings in Atlassian by 2.4% during the 4th quarter. Graypoint LLC now owns 1,784 shares of the technology company’s stock worth $424,000 after purchasing an additional 42 shares during the last quarter. Legacy Wealth Asset Management LLC grew its position in shares of Atlassian by 1.4% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 3,095 shares of the technology company’s stock valued at $736,000 after purchasing an additional 43 shares during the period. Park National Corp OH boosted its position in Atlassian by 3.5% during the 4th quarter. Park National Corp OH now owns 1,439 shares of the technology company’s stock worth $342,000 after acquiring an additional 48 shares during the last quarter. First Trust Direct Indexing L.P. boosted its position in Atlassian by 1.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock worth $721,000 after acquiring an additional 55 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in Atlassian by 5.7% during the 4th quarter. UMB Bank n.a. now owns 1,041 shares of the technology company’s stock worth $248,000 after acquiring an additional 56 shares during the last quarter. 93.03% of the stock is owned by institutional investors.

Atlassian Price Performance

TEAM opened at $181.77 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.82. Atlassian has a 52-week low of $128.02 and a 52-week high of $258.69. The company has a 50 day moving average of $196.77 and a two-hundred day moving average of $205.99. The company has a market cap of $47.31 billion, a P/E ratio of -288.52 and a beta of 0.67.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.27. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The business’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.40) earnings per share. On average, analysts expect that Atlassian will post -0.29 earnings per share for the current year.

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.