Atlassian (NASDAQ:TEAM) Price Target Raised to $200.00

Atlassian (NASDAQ:TEAM) had its target price boosted by research analysts at Oppenheimer from $110.00 to $200.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s target price points to a potential upside of 38.79% from the company’s previous close.

TEAM has been the topic of a number of other reports. Wells Fargo & Company restated an “overweight” rating and issued a $180.00 price objective on shares of Atlassian in a research note on Friday. Robert W. Baird set a $120.00 target price on shares of Atlassian in a research note on Friday, May 1st. Barclays raised their price target on Atlassian from $106.00 to $112.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. BMO Capital Markets boosted their price target on Atlassian from $95.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Citizens Jmp reaffirmed a “market perform” rating on shares of Atlassian in a research note on Wednesday, July 1st. Twenty-three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $159.62.

Atlassian Stock Performance

Shares of TEAM opened at $144.10 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.13. The firm has a market cap of $36.57 billion, a PE ratio of -174.88, a price-to-earnings-growth ratio of 8.14 and a beta of 1.05. The company’s 50 day simple moving average is $92.18 and its 200-day simple moving average is $86.48. Atlassian has a 12-month low of $56.01 and a 12-month high of $184.00.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, August 6th. The technology company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.37. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the company posted $0.98 EPS. The company’s quarterly revenue was up 27.6% on a year-over-year basis. As a group, equities analysts predict that Atlassian will post 0.81 EPS for the current year.

Insider Buying and Selling

In related news, CRO Brian Duffy sold 3,000 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $89.71, for a total transaction of $269,130.00. Following the transaction, the executive owned 227,691 shares of the company’s stock, valued at $20,426,159.61. This represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO James Chuong sold 8,838 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total value of $775,534.50. Following the completion of the transaction, the chief financial officer owned 288,272 shares of the company’s stock, valued at $25,295,868. The trade was a 2.97% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 20,041 shares of company stock valued at $1,801,069. Company insiders own 36.66% of the company’s stock.

Hedge Funds Weigh In On Atlassian

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MV Capital Management Inc. acquired a new stake in shares of Atlassian in the fourth quarter valued at about $25,000. MassMutual Private Wealth & Trust FSB grew its position in Atlassian by 139.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 378 shares of the technology company’s stock worth $29,000 after buying an additional 220 shares during the period. Western Wealth Management LLC purchased a new position in Atlassian in the first quarter valued at about $30,000. State of Wyoming increased its holdings in Atlassian by 65.7% in the first quarter. State of Wyoming now owns 449 shares of the technology company’s stock valued at $31,000 after buying an additional 178 shares in the last quarter. Finally, Basepoint Wealth LLC acquired a new stake in shares of Atlassian during the 4th quarter valued at approximately $32,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Atlassian

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Results significantly exceeded expectations. Atlassian reported adjusted earnings of $1.87 per share versus the $1.50 consensus, while revenue rose 27.6% year over year to $1.77 billion, ahead of the $1.66 billion estimate. Cloud revenue increased 31% to $1.21 billion, reinforcing demand for the company’s enterprise collaboration and productivity products. Atlassian beats quarterly estimates on strong cloud demand
• Positive Sentiment: Forward guidance was constructive. Management’s fiscal first-quarter revenue outlook of approximately $1.71 billion was reportedly about 2.8% above analyst expectations, while fiscal 2027 revenue guidance was approximately $7.4 billion. The outlook indicates continued momentum in cloud products and AI-related offerings. Atlassian beats expectations in strong quarter
• Positive Sentiment: Analyst sentiment improved sharply. Truist raised its price target from $100 to $160 and initiated a “buy” rating; Bank of America upgraded the stock to “buy” with a $175 target; and BMO lifted its target from $95 to $175 with an “outperform” rating. These targets imply substantial upside from recent trading levels. Truist analyst action
• Positive Sentiment: The earnings report eased AI-disruption concerns. Analysts described the results as a potential “game changer” for enterprise software, suggesting that AI tools are strengthening rather than replacing demand for collaboration platforms such as Jira, Confluence and Rovo. Atlassian results seen as game changer for AI
• Neutral Sentiment: Near-term trading may reflect profit-taking. TEAM rallied sharply in extended-hours and premarket trading after the earnings release, so some investors may be locking in gains. This can temporarily offset otherwise positive earnings and analyst news.

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.