Atlassian Co. (NASDAQ:TEAM) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Atlassian Co. (NASDAQ:TEAM) have received an average rating of “Moderate Buy” from the twenty-two analysts that are presently covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $243.16.

Several research firms recently issued reports on TEAM. KeyCorp upgraded Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price target on the stock in a report on Friday. Canaccord Genuity Group lifted their price target on shares of Atlassian from $225.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday. Barclays cut their price objective on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Morgan Stanley lifted their target price on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Scotiabank upped their target price on shares of Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a research report on Friday.

Insiders Place Their Bets

In other news, CEO Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $143.54, for a total value of $1,140,855.92. Following the completion of the transaction, the chief executive officer now owns 309,972 shares in the company, valued at $44,493,380.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CTO Rajeev Bashyam Rajan sold 199 shares of Atlassian stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $146.08, for a total value of $29,069.92. Following the sale, the chief technology officer now owns 128,957 shares of the company’s stock, valued at approximately $18,838,038.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott Farquhar sold 7,948 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $143.54, for a total value of $1,140,855.92. Following the completion of the sale, the chief executive officer now owns 309,972 shares in the company, valued at $44,493,380.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 230,185 shares of company stock worth $39,155,661. Company insiders own 38.55% of the company’s stock.

Institutional Trading of Atlassian

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dragoneer Investment Group LLC bought a new position in Atlassian in the second quarter valued at $469,803,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Atlassian by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after buying an additional 904,138 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Atlassian in the 2nd quarter valued at about $91,072,000. Quadrature Capital Ltd acquired a new stake in shares of Atlassian in the first quarter valued at about $55,307,000. Finally, Swedbank AB bought a new stake in Atlassian during the first quarter worth about $50,923,000. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Price Performance

Shares of TEAM stock opened at $224.35 on Tuesday. Atlassian has a 1 year low of $135.29 and a 1 year high of $258.69. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The firm’s 50 day moving average is $173.30 and its 200-day moving average is $171.30. The firm has a market capitalization of $58.34 billion, a price-to-earnings ratio of -147.60 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.07. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. Atlassian had a negative return on equity of 23.38% and a negative net margin of 8.59%. The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.21) EPS. Sell-side analysts forecast that Atlassian will post -0.58 EPS for the current fiscal year.

Atlassian Company Profile

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.