Truist Financial Reaffirms “Buy” Rating for Atlassian (NASDAQ:TEAM)

Atlassian (NASDAQ:TEAM)‘s stock had its “buy” rating reaffirmed by stock analysts at Truist Financial in a note issued to investors on Friday, Benzinga reports. They currently have a $200.00 price objective on the technology company’s stock, down from their previous price objective of $250.00. Truist Financial‘s target price would indicate a potential upside of 27.72% from the company’s previous close.

Several other brokerages have also recently weighed in on TEAM. Bank of America upped their price target on shares of Atlassian from $175.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, August 31st. BTIG Research decreased their price target on shares of Atlassian from $260.00 to $240.00 and set a “buy” rating for the company in a research report on Friday. UBS Group reissued a “buy” rating on shares of Atlassian in a research report on Friday. Guggenheim set a $280.00 target price on shares of Atlassian in a research note on Friday. Finally, KeyCorp lifted their price target on shares of Atlassian from $185.00 to $235.00 and gave the stock an “overweight” rating in a report on Monday, October 19th. Twenty-four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $211.36.

Atlassian Price Performance

Shares of TEAM traded down $26.70 during mid-day trading on Friday, hitting $156.59. 4,208,580 shares of the stock were exchanged, compared to its average volume of 5,486,240. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market cap of $39.64 billion, a PE ratio of -816.65, a price-to-earnings-growth ratio of 20.25 and a beta of 1.16. Atlassian has a 52-week low of $56.01 and a 52-week high of $229.96. The firm has a 50-day moving average of $196.69 and a two-hundred day moving average of $119.39.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, November 5th. The technology company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.26. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the firm earned $1.04 EPS. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. On average, equities analysts predict that Atlassian will post 0.69 earnings per share for the current year.

Insiders Place Their Bets

In other Atlassian news, CRO Brian Duffy sold 1,851 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total value of $319,204.95. Following the completion of the transaction, the executive owned 218,223 shares of the company’s stock, valued at approximately $37,632,556.35. This trade represents a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Gene Liu sold 337 shares of Atlassian stock in a transaction on Monday, October 12th. The stock was sold at an average price of $210.00, for a total transaction of $70,770.00. Following the sale, the chief accounting officer owned 55,531 shares of the company’s stock, valued at $11,661,510. The trade was a 0.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 22,475 shares of company stock valued at $3,822,643. Insiders own 37.63% of the company’s stock.

Institutional Investors Weigh In On Atlassian

A number of large investors have recently bought and sold shares of TEAM. Carmignac Gestion lifted its stake in Atlassian by 115.8% in the 1st quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company’s stock valued at $177,707,000 after buying an additional 1,397,402 shares in the last quarter. KBC Group NV increased its stake in Atlassian by 1,691.2% during the 1st quarter. KBC Group NV now owns 1,440,019 shares of the technology company’s stock worth $98,281,000 after buying an additional 1,359,624 shares in the last quarter. First Trust Advisors LP increased its stake in Atlassian by 48.4% during the 1st quarter. First Trust Advisors LP now owns 2,349,842 shares of the technology company’s stock worth $160,377,000 after buying an additional 766,922 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of Atlassian by 947.7% during the first quarter. Quantinno Capital Management LP now owns 283,427 shares of the technology company’s stock valued at $19,344,000 after acquiring an additional 256,374 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Atlassian by 111.7% during the third quarter. Assenagon Asset Management S.A. now owns 469,100 shares of the technology company’s stock valued at $84,105,000 after acquiring an additional 247,540 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian News Summary

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Fiscal Q1 revenue was $1.77 billion, up 23.7% year over year and above the $1.71 billion consensus; adjusted EPS of $1.65 also topped the $1.39 estimate. Cloud revenue grew 31%, while remaining performance obligations rose 44% and Teamwork Collection customers increased sevenfold year over year. Read More.
• Positive Sentiment: Atlassian forecast FY2027 revenue of $7.5 billion, above analysts’ $7.4 billion estimate. Several analysts retained bullish ratings: Piper Sandler raised its target to $190, while Wells Fargo and BTIG lowered targets but kept “overweight” and “buy” ratings, respectively. Read More.
• Neutral Sentiment: Q2 FY2027 revenue guidance of $1.8 billion matched consensus, offering no clear near-term upside surprise. Read More.
• Negative Sentiment: The post-earnings decline suggests investors were more concerned about the growth outlook than the quarter’s beat. Reports highlighted questions around cloud-migration timing and AI monetization, while Wells Fargo and BTIG cut their price targets, tempering the positive analyst signals. Read More.

Atlassian Company Profile

Atlassian Corporation develops collaboration, project-management and workflow software for technology, business and service teams. Its products are designed to help organizations plan projects, manage software development, coordinate work and share knowledge across departments.

Its product portfolio includes Jira for project and issue tracking, Confluence for team collaboration and knowledge management, Jira Service Management for IT and enterprise service workflows, Trello for organizing tasks and projects, Loom for video messaging and screen recording, and Bitbucket for source-code management and collaboration.