Atlassian (NASDAQ:TEAM) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of Atlassian (NASDAQ:TEAM) from a hold rating to a strong sell rating in a report issued on Tuesday,Zacks.com reports.

Several other equities research analysts also recently commented on the company. Wells Fargo & Company began coverage on Atlassian in a report on Tuesday, September 30th. They issued an “overweight” rating and a $216.00 target price on the stock. UBS Group reissued a “hold” rating on shares of Atlassian in a report on Monday, July 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Atlassian in a report on Wednesday. Canaccord Genuity Group dropped their target price on Atlassian from $255.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, August 8th. Finally, Bank of America began coverage on Atlassian in a report on Tuesday, September 23rd. They issued a “neutral” rating and a $200.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.74.

Atlassian Price Performance

Shares of TEAM stock opened at $147.74 on Tuesday. The stock has a market cap of $38.76 billion, a price-to-earnings ratio of -149.23 and a beta of 0.92. The business’s fifty day moving average is $167.81 and its 200 day moving average is $193.42. Atlassian has a twelve month low of $146.16 and a twelve month high of $326.00. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.73.

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

Insider Buying and Selling at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 7,728 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $163.43, for a total value of $1,262,987.04. Following the transaction, the president owned 182,801 shares of the company’s stock, valued at approximately $29,875,167.43. This represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott Farquhar sold 7,665 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $202.78, for a total value of $1,554,308.70. Following the completion of the transaction, the director directly owned 367,920 shares in the company, valued at approximately $74,606,817.60. This represents a 2.04% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 551,608 shares of company stock valued at $96,545,968. 38.55% of the stock is owned by company insiders.

Institutional Trading of Atlassian

Several institutional investors have recently made changes to their positions in TEAM. Capco Asset Management LLC purchased a new stake in shares of Atlassian during the second quarter worth about $25,000. Smithfield Trust Co grew its position in shares of Atlassian by 90.7% during the first quarter. Smithfield Trust Co now owns 164 shares of the technology company’s stock worth $34,000 after purchasing an additional 78 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after purchasing an additional 161 shares in the last quarter. First Horizon Advisors Inc. grew its position in shares of Atlassian by 25.9% during the first quarter. First Horizon Advisors Inc. now owns 267 shares of the technology company’s stock worth $57,000 after purchasing an additional 55 shares in the last quarter. Finally, State of Wyoming grew its position in shares of Atlassian by 20.3% during the first quarter. State of Wyoming now owns 278 shares of the technology company’s stock worth $59,000 after purchasing an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

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.