Atlassian Co. (NASDAQ:TEAM) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Atlassian Co. (NASDAQ:TEAM) have earned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are currently covering the stock, MarketBeat reports. Nine investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $224.25.

A number of analysts recently weighed in on the stock. UBS Group lowered their price target on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a report on Friday, February 2nd. Mizuho lowered their target price on shares of Atlassian from $265.00 to $240.00 and set a “buy” rating for the company in a report on Monday. Citigroup lowered their target price on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a report on Friday, April 12th. Finally, Barclays raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $235.00 to $275.00 in a report on Thursday, April 11th.

Atlassian Stock Performance

Shares of Atlassian stock opened at $194.85 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market cap of $50.55 billion, a P/E ratio of -130.77 and a beta of 0.63. The firm has a 50 day simple moving average of $203.36 and a 200 day simple moving average of $206.79. Atlassian has a fifty-two week low of $128.02 and a fifty-two week high of $258.69.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. Sell-side analysts predict that Atlassian will post -0.4 earnings per share for the current fiscal year.

Insider Activity at Atlassian

In related news, CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $238.95, for a total value of $1,969,186.95. Following the sale, the chief executive officer now directly owns 403,809 shares of the company’s stock, valued at approximately $96,490,160.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $201.05, for a total value of $305,596.00. Following the sale, the president now directly owns 163,370 shares of the company’s stock, valued at approximately $32,845,538.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $238.95, for a total transaction of $1,969,186.95. Following the sale, the chief executive officer now directly owns 403,809 shares in the company, valued at $96,490,160.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 293,159 shares of company stock valued at $62,026,607. 40.48% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Atlassian

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Atlassian by 12.4% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 73,263 shares of the technology company’s stock worth $14,763,000 after buying an additional 8,073 shares in the last quarter. Arkadios Wealth Advisors acquired a new position in shares of Atlassian during the 4th quarter worth about $202,000. American Century Companies Inc. increased its stake in shares of Atlassian by 58.7% during the 3rd quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock worth $86,672,000 after purchasing an additional 159,102 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Atlassian during the 4th quarter worth about $13,805,000. Finally, Royal Bank of Canada increased its stake in shares of Atlassian by 17.3% during the 3rd quarter. Royal Bank of Canada now owns 381,430 shares of the technology company’s stock worth $76,862,000 after purchasing an additional 56,149 shares during the last quarter. 93.03% of the stock is owned by institutional investors.

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.