Atlassian Corporation PLC (NASDAQ:TEAM) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Atlassian Corporation PLC (NASDAQ:TEAM) have been given a consensus rating of “Moderate Buy” by the twenty-eight research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, twenty-one have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $145.6296.

Several brokerages have recently commented on TEAM. Barclays increased their target price on shares of Atlassian from $106.00 to $112.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. TD Cowen upped their price objective on shares of Atlassian from $85.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, May 1st. BNP Paribas Exane started coverage on shares of Atlassian in a research note on Monday, March 16th. They issued an “outperform” rating and a $95.00 price objective for the company. Truist Financial lifted their target price on shares of Atlassian from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, Morgan Stanley cut their target price on Atlassian from $290.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, April 16th.

Insider Buying and Selling at Atlassian

In other Atlassian news, CRO Brian Duffy sold 1,986 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total value of $174,271.50. Following the transaction, the executive owned 236,841 shares of the company’s stock, valued at approximately $20,782,797.75. The trade was a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO James Chuong sold 8,838 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total value of $775,534.50. Following the completion of the transaction, the chief financial officer owned 288,272 shares of the company’s stock, valued at $25,295,868. This trade represents a 2.97% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 10,891 shares of company stock worth $955,683. Insiders own 36.66% of the company’s stock.

Institutional Trading of Atlassian

A number of large investors have recently added to or reduced their stakes in the stock. Physician Wealth Advisors Inc. raised its position in Atlassian by 60.4% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after purchasing an additional 61 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Atlassian by 12.0% during the fourth quarter. GAMMA Investing LLC now owns 615 shares of the technology company’s stock worth $100,000 after buying an additional 66 shares in the last quarter. Snowden Capital Advisors LLC increased its stake in shares of Atlassian by 1.6% during the second quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock worth $907,000 after buying an additional 71 shares during the period. Financial Perspectives Inc increased its stake in shares of Atlassian by 11.7% during the fourth quarter. Financial Perspectives Inc now owns 718 shares of the technology company’s stock worth $116,000 after buying an additional 75 shares during the period. Finally, ABN Amro Investment Solutions raised its holdings in Atlassian by 3.4% in the third quarter. ABN Amro Investment Solutions now owns 2,452 shares of the technology company’s stock valued at $392,000 after acquiring an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Stock Down 0.6%

Shares of NASDAQ:TEAM opened at $84.92 on Wednesday. The business’s 50 day moving average is $74.24 and its 200 day moving average is $109.12. Atlassian has a 12-month low of $56.01 and a 12-month high of $222.59. The stock has a market cap of $21.55 billion, a price-to-earnings ratio of -102.31, a PEG ratio of 4.84 and a beta of 0.90. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.42. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.The business’s revenue was up 31.7% on a year-over-year basis. During the same period last year, the business earned $0.97 EPS. On average, sell-side analysts forecast that Atlassian will post 0.81 earnings per share for the current fiscal year.

About Atlassian

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.