Analysts Set Atlassian Co. (NASDAQ:TEAM) Price Target at $244.21

Atlassian Co. (NASDAQ:TEAM) has been assigned an average recommendation of “Moderate Buy” from the twenty-two analysts that are currently covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $244.21.

TEAM has been the subject of several research analyst reports. JMP Securities upgraded shares of Atlassian to a “hold” rating in a research report on Friday, August 2nd. BMO Capital Markets raised their target price on Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st. Raymond James upped their price objective on shares of Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Baird R W cut Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company boosted their price target on shares of Atlassian from $250.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st.

Atlassian Stock Up 0.2 %

Atlassian stock opened at $261.00 on Friday. The business’s 50-day simple moving average is $196.47 and its two-hundred day simple moving average is $176.97. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market cap of $67.97 billion, a PE ratio of -176.14 and a beta of 0.71. Atlassian has a fifty-two week low of $135.29 and a fifty-two week high of $269.40.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the firm posted ($0.07) EPS. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. Equities analysts anticipate that Atlassian will post -0.56 EPS for the current year.

Insiders Place Their Bets

In related news, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $244.81, for a total value of $1,945,749.88. Following the transaction, the director now directly owns 214,596 shares in the company, valued at $52,535,246.76. This trade represents a 3.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the transaction, the president now directly owns 143,966 shares of the company’s stock, valued at $23,482,294.26. This represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 249,746 shares of company stock valued at $47,702,864 over the last quarter. Company insiders own 38.55% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TEAM. Sequoia Financial Advisors LLC boosted its position in Atlassian by 37.0% during the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock worth $306,000 after purchasing an additional 520 shares in the last quarter. Impax Asset Management Group plc raised its stake in shares of Atlassian by 590.6% during the 3rd quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock worth $5,940,000 after buying an additional 31,986 shares during the last quarter. Parnassus Investments LLC boosted its position in shares of Atlassian by 322.9% in the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after buying an additional 245,286 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Atlassian in the 3rd quarter valued at about $97,350,000. Finally, Aigen Investment Management LP purchased a new position in Atlassian during the 3rd quarter valued at about $2,232,000. 93.03% of the stock is currently owned by institutional investors and hedge funds.

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.