Atlassian (NASDAQ:TEAM) Upgraded by StockNews.com to “Buy”

Atlassian (NASDAQ:TEAMGet Free Report) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

Several other research firms have also issued reports on TEAM. TD Cowen dropped their price objective on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Truist Financial cut their price target on Atlassian from $220.00 to $200.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Piper Sandler lowered their price objective on Atlassian from $225.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. Mizuho cut their price target on shares of Atlassian from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Finally, Barclays raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $235.00 to $275.00 in a report on Thursday, April 11th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and an average price target of $223.22.

View Our Latest Stock Analysis on TEAM

Atlassian Stock Up 3.5 %

TEAM stock opened at $163.46 on Friday. The stock has a market capitalization of $42.55 billion, a P/E ratio of -259.46 and a beta of 0.73. The company has a 50 day moving average price of $183.42 and a two-hundred day moving average price of $204.40. Atlassian has a one year low of $154.02 and a one year high of $258.69. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAMGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.27. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The business’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.40) EPS. As a group, sell-side analysts expect that Atlassian will post -0.23 EPS for the current year.

Insider Transactions at Atlassian

In other Atlassian news, CAO Gene Liu sold 582 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $215.00, for a total transaction of $125,130.00. Following the completion of the transaction, the chief accounting officer now owns 45,865 shares in the company, valued at approximately $9,860,975. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Gene Liu sold 582 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $215.00, for a total transaction of $125,130.00. Following the sale, the chief accounting officer now owns 45,865 shares in the company, valued at $9,860,975. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $201.05, for a total transaction of $305,596.00. Following the transaction, the president now owns 163,370 shares in the company, valued at $32,845,538.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 284,126 shares of company stock worth $53,540,046. Company insiders own 40.48% of the company’s stock.

Institutional Investors Weigh In On Atlassian

Hedge funds have recently bought and sold shares of the business. Hollencrest Capital Management increased its stake in shares of Atlassian by 383.9% in the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after acquiring an additional 119 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in Atlassian in the first quarter valued at approximately $40,000. Crewe Advisors LLC bought a new stake in Atlassian in the first quarter worth approximately $43,000. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Atlassian by 271.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after purchasing an additional 271 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Atlassian by 255.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock valued at $96,000 after purchasing an additional 291 shares in the last quarter. 93.03% of the stock is owned by hedge funds and other institutional investors.

About Atlassian

(Get Free Report)

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.

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Analyst Recommendations for Atlassian (NASDAQ:TEAM)

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