Atlassian Corporation PLC (NASDAQ:TEAM) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Atlassian Corporation PLC (NASDAQ:TEAM) have been given an average recommendation of “Moderate Buy” by the thirty analysts that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and twenty-five have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $191.56.

Several research analysts recently commented on the stock. Jefferies Financial Group restated a “buy” rating and issued a $200.00 price target on shares of Atlassian in a report on Friday, August 7th. Morgan Stanley increased their price objective on shares of Atlassian from $120.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Citizens Jmp reissued a “market perform” rating on shares of Atlassian in a research note on Wednesday, July 1st. Zacks Research lowered shares of Atlassian from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Finally, FBN Securities reaffirmed an “outperform” rating and set a $170.00 price target on shares of Atlassian in a research report on Monday, August 10th.

Atlassian Price Performance

TEAM stock opened at $196.65 on Tuesday. The company has a market cap of $49.90 billion, a PE ratio of -1,035.00, a price-to-earnings-growth ratio of 14.76 and a beta of 1.22. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.93. The stock has a 50-day moving average price of $167.69 and a two-hundred day moving average price of $111.94. Atlassian has a 12-month low of $56.01 and a 12-month high of $200.00.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Friday, August 7th. The technology company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.37. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.66 billion. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%.The company’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same period last year, the business posted $0.98 EPS. As a group, research analysts predict that Atlassian will post 0.94 EPS for the current year.

Insider Buying and Selling at Atlassian

In other news, CRO Brian Duffy sold 7,617 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $163.00, for a total value of $1,241,571.00. Following the completion of the sale, the executive owned 220,074 shares in the company, valued at approximately $35,872,062. This trade represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Gene Liu sold 1,125 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $175.00, for a total value of $196,875.00. Following the sale, the chief accounting officer owned 56,807 shares in the company, valued at approximately $9,941,225. The trade was a 1.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,138 shares of company stock valued at $3,751,873 over the last three months. 36.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On Atlassian

A number of institutional investors and hedge funds have recently bought and sold shares of TEAM. Norges Bank bought a new stake in shares of Atlassian in the 4th quarter worth about $323,526,000. Carmignac Gestion lifted its position in shares of Atlassian by 115.8% during the first quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company’s stock worth $177,707,000 after purchasing an additional 1,397,402 shares during the last quarter. KBC Group NV lifted its position in shares of Atlassian by 1,691.2% during the first quarter. KBC Group NV now owns 1,440,019 shares of the technology company’s stock worth $98,281,000 after purchasing an additional 1,359,624 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in Atlassian by 27.4% in the first quarter. Pictet Asset Management Holding SA now owns 5,031,413 shares of the technology company’s stock worth $343,344,000 after purchasing an additional 1,080,561 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Atlassian by 1,516.7% in the first quarter. SG Americas Securities LLC now owns 905,629 shares of the technology company’s stock worth $61,809,000 after purchasing an additional 849,613 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Company Profile

Atlassian Corporation develops collaboration, productivity and workflow-management software for technology, business and enterprise teams. Its products are designed to help organizations plan projects, manage software development, document and share knowledge, provide IT and customer support, and coordinate work across distributed teams.

Its product portfolio includes Jira for project and issue management, Confluence for team collaboration and knowledge sharing, Jira Service Management for IT service and support operations, and Trello for organizing tasks and projects.