Atlassian (NASDAQ:TEAM) Price Target Raised to $180.00

Atlassian (NASDAQ:TEAMGet Rating) had its price objective boosted by Jefferies Financial Group from $150.00 to $180.00 in a research note issued to investors on Thursday, The Fly reports. The brokerage presently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 14.10% from the company’s previous close.

A number of other research firms have also recently commented on TEAM. Wells Fargo & Company dropped their target price on Atlassian from $250.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, January 6th. Morgan Stanley decreased their price target on shares of Atlassian from $375.00 to $190.00 and set an “overweight” rating on the stock in a research note on Friday, November 11th. Piper Sandler decreased their price target on shares of Atlassian from $148.00 to $140.00 in a research note on Tuesday, January 3rd. The Goldman Sachs Group decreased their price target on shares of Atlassian from $300.00 to $265.00 and set a “buy” rating on the stock in a research note on Friday, November 4th. Finally, StockNews.com lowered shares of Atlassian from a “hold” rating to a “sell” rating in a research note on Saturday, January 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Atlassian has an average rating of “Moderate Buy” and an average target price of $237.95.

Atlassian Price Performance

NASDAQ:TEAM opened at $157.75 on Thursday. Atlassian has a 52 week low of $113.86 and a 52 week high of $352.92. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 2.08. The stock has a market capitalization of $40.31 billion, a PE ratio of -177.25 and a beta of 0.80. The stock’s 50-day moving average price is $133.64 and its 200-day moving average price is $189.85.

Atlassian (NASDAQ:TEAMGet Rating) last posted its earnings results on Thursday, November 3rd. The technology company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.46. Atlassian had a negative return on equity of 71.10% and a negative net margin of 7.60%. The firm had revenue of $807.39 million for the quarter, compared to analysts’ expectations of $806.42 million. During the same period last year, the firm earned ($0.01) EPS. The company’s quarterly revenue was up 31.5% on a year-over-year basis. As a group, equities analysts expect that Atlassian will post -0.96 EPS for the current fiscal year.

Insider Activity

In other news, CEO Scott Farquhar sold 8,614 shares of Atlassian stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $200.71, for a total transaction of $1,728,915.94. Following the sale, the chief executive officer now owns 387,630 shares of the company’s stock, valued at approximately $77,801,217.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, COO Anutthara Bharadwaj sold 1,675 shares of Atlassian stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $134.92, for a total value of $225,991.00. Following the completion of the sale, the chief operating officer now owns 109,754 shares in the company, valued at approximately $14,808,009.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott Farquhar sold 8,614 shares of Atlassian stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $200.71, for a total transaction of $1,728,915.94. Following the completion of the sale, the chief executive officer now owns 387,630 shares of the company’s stock, valued at approximately $77,801,217.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 275,124 shares of company stock valued at $38,699,196. 43.11% of the stock is currently owned by company insiders.

Institutional Trading of Atlassian

Institutional investors have recently added to or reduced their stakes in the stock. Ronald Blue Trust Inc. acquired a new stake in Atlassian in the 2nd quarter valued at approximately $36,000. Rosenberg Matthew Hamilton acquired a new stake in Atlassian in the 3rd quarter valued at approximately $26,000. Quent Capital LLC increased its holdings in Atlassian by 28.4% in the 2nd quarter. Quent Capital LLC now owns 217 shares of the technology company’s stock valued at $41,000 after purchasing an additional 48 shares during the last quarter. Crewe Advisors LLC increased its holdings in Atlassian by 270.0% in the 2nd quarter. Crewe Advisors LLC now owns 259 shares of the technology company’s stock valued at $49,000 after purchasing an additional 189 shares during the last quarter. Finally, SeaCrest Wealth Management LLC acquired a new position in shares of Atlassian in the second quarter worth $54,000. Institutional investors and hedge funds own 45.50% of the company’s stock.

About Atlassian

(Get Rating)

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include Jira Software and Jira Work Management, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise organizations to build and manage a master plan that maps strategic projects to the various work streams required to deliver them; and Opsgenie, an incident management tool that enables IT teams to plan for and respond to service disruptions.

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