Atlassian (NASDAQ:TEAM) Earns Overweight Rating from Analysts at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of Atlassian (NASDAQ:TEAM) in a report released on Tuesday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $216.00 price target on the technology company’s stock.

Several other equities research analysts also recently weighed in on the company. Canaccord Genuity Group lowered their price target on Atlassian from $255.00 to $230.00 and set a “buy” rating for the company in a report on Friday, August 8th. Zacks Research raised Atlassian from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 20th. Citigroup lowered their price target on Atlassian from $300.00 to $240.00 and set a “buy” rating for the company in a report on Monday, August 18th. Bank of America initiated coverage on Atlassian in a report on Tuesday, September 23rd. They issued a “neutral” rating and a $200.00 price target for the company. Finally, UBS Group reissued a “hold” rating on shares of Atlassian in a report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $248.74.

Atlassian Price Performance

Shares of TEAM stock opened at $151.05 on Tuesday. Atlassian has a 1-year low of $147.40 and a 1-year high of $326.00. The stock’s 50-day moving average is $172.72 and its 200 day moving average is $196.11. The company has a market cap of $39.62 billion, a P/E ratio of -152.57 and a beta of 0.92. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.22.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, August 7th. The technology company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.15. Atlassian had a negative return on equity of 14.77% and a negative net margin of 4.92%.The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the company earned $0.66 earnings per share. The firm’s revenue for the quarter was up 22.3% compared to the same quarter last year. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. Research analysts predict that Atlassian will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Scott Belsky bought 1,566 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was purchased at an average price of $153.10 per share, with a total value of $239,754.60. Following the completion of the acquisition, the director directly owned 3,021 shares of the company’s stock, valued at $462,515.10. This trade represents a 107.63% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $152.50, for a total value of $1,168,912.50. Following the sale, the director directly owned 482,895 shares of the company’s stock, valued at $73,641,487.50. This trade represents a 1.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 551,608 shares of company stock valued at $99,222,126 over the last quarter. 38.55% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. One Wealth Advisors LLC raised its position in Atlassian by 56.7% during the second quarter. One Wealth Advisors LLC now owns 4,436 shares of the technology company’s stock valued at $901,000 after acquiring an additional 1,606 shares in the last quarter. Farther Finance Advisors LLC raised its position in Atlassian by 37.7% during the first quarter. Farther Finance Advisors LLC now owns 369 shares of the technology company’s stock valued at $80,000 after acquiring an additional 101 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Atlassian by 42.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,240 shares of the technology company’s stock valued at $900,000 after acquiring an additional 1,259 shares in the last quarter. Principal Financial Group Inc. raised its position in Atlassian by 350.1% during the first quarter. Principal Financial Group Inc. now owns 51,900 shares of the technology company’s stock valued at $11,014,000 after acquiring an additional 40,369 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Atlassian by 47,387.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,799 shares of the technology company’s stock valued at $822,000 after acquiring an additional 3,791 shares in the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

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.