Atlassian (NASDAQ:TEAM) Upgraded by Cantor Fitzgerald to “Hold” Rating

Cantor Fitzgerald upgraded shares of Atlassian (NASDAQ:TEAM) to a hold rating in a research report sent to investors on Thursday, MarketBeat reports. Cantor Fitzgerald currently has $264.00 target price on the technology company’s stock.

Other research analysts have also issued reports about the company. Raymond James raised their price target on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Piper Sandler raised their price target on Atlassian from $265.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Canaccord Genuity Group raised their price target on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a report on Friday, December 20th. UBS Group raised their price target on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company raised their price target on Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Nine investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $272.00.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $252.36 on Thursday. Atlassian has a 1-year low of $135.29 and a 1-year high of $287.97. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The business’s fifty day moving average price is $256.36 and its two-hundred day moving average price is $202.09. The firm has a market capitalization of $65.72 billion, a PE ratio of -166.03 and a beta of 0.83.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share 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 firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company earned ($0.07) earnings per share. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. On average, research analysts expect that Atlassian will post -0.55 EPS for the current year.

Insider Activity at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 15,896 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the completion of the sale, the chief executive officer now directly owns 429,192 shares in the company, valued at approximately $104,529,711.60. This trade represents a 3.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $253.01, for a total value of $2,010,923.48. Following the sale, the director now owns 389,452 shares of the company’s stock, valued at $98,535,250.52. The trade was a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 280,136 shares of company stock worth $67,814,587 in the last quarter. 38.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On Atlassian

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in shares of Atlassian by 22.9% during the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock worth $71,000 after purchasing an additional 54 shares in the last quarter. Legacy Wealth Asset Management LLC raised its stake in shares of Atlassian by 2.1% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock worth $544,000 after purchasing an additional 70 shares in the last quarter. Brown Brothers Harriman & Co. raised its stake in shares of Atlassian by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after purchasing an additional 82 shares in the last quarter. Commerce Bank raised its stake in shares of Atlassian by 1.8% during the 3rd quarter. Commerce Bank now owns 4,966 shares of the technology company’s stock worth $789,000 after purchasing an additional 90 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of Atlassian by 4.8% during the 3rd quarter. Signaturefd LLC now owns 2,411 shares of the technology company’s stock worth $383,000 after purchasing an additional 111 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

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.