Atlassian Corporation PLC (NASDAQ:TEAM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Atlassian Corporation PLC (NASDAQ:TEAM) has been given a consensus rating of “Moderate Buy” by the thirty-two research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $239.2308.

Several analysts have weighed in on TEAM shares. BTIG Research assumed coverage on shares of Atlassian in a research note on Tuesday, December 16th. They issued a “buy” rating and a $220.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $240.00 price objective on shares of Atlassian in a report on Friday, October 31st. The Goldman Sachs Group reissued a “buy” rating and issued a $260.00 target price on shares of Atlassian in a research note on Friday, October 31st. Bank of America initiated coverage on Atlassian in a report on Tuesday, September 23rd. They set a “neutral” rating and a $200.00 target price for the company. Finally, Wall Street Zen upgraded Atlassian from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th.

Insider Transactions at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 9,847 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $152.46, for a total value of $1,501,273.62. Following the sale, the president owned 242,092 shares of the company’s stock, valued at $36,909,346.32. This trade represents a 3.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the company’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $166.36, for a total transaction of $1,275,149.40. Following the transaction, the chief executive officer directly owned 7,665 shares of the company’s stock, valued at approximately $1,275,149.40. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 566,379 shares of company stock worth $88,603,157. Insiders own 36.66% of the company’s stock.

Institutional Trading of Atlassian

Several large investors have recently modified their holdings of the business. Capco Asset Management LLC purchased a new stake in Atlassian in the 2nd quarter worth approximately $25,000. Physician Wealth Advisors Inc. raised its holdings in shares of Atlassian by 60.4% during the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after acquiring an additional 61 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Atlassian by 447.2% in the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after acquiring an additional 161 shares during the period. Atlantic Union Bankshares Corp boosted its holdings in Atlassian by 19,900.0% in the third quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock valued at $32,000 after acquiring an additional 199 shares in the last quarter. Finally, State of Wyoming boosted its holdings in Atlassian by 20.3% in the first quarter. State of Wyoming now owns 278 shares of the technology company’s stock valued at $59,000 after acquiring an additional 47 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

Atlassian Stock Performance

NASDAQ:TEAM opened at $163.15 on Friday. The company has a market capitalization of $42.93 billion, a price-to-earnings ratio of -229.79, a PEG ratio of 25.27 and a beta of 0.89. The business has a 50 day moving average of $158.22 and a 200 day moving average of $172.07. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. Atlassian has a 1-year low of $139.70 and a 1-year high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.21. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the business earned $0.77 earnings per share. The business’s quarterly revenue was up 20.6% on a year-over-year basis. On average, sell-side analysts predict that Atlassian will post -0.34 earnings per share for the current fiscal year.

Atlassian Company Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.