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

Atlassian Corporation PLC (NASDAQ:TEAM) has been assigned an average recommendation of “Moderate Buy” from the twenty-eight ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have given 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 brokers that have issued a report on the stock in the last year is $145.6296.

A number of equities analysts recently weighed in on TEAM shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Atlassian in a research note on Monday, April 20th. Sanford C. Bernstein reissued an “outperform” rating and issued a $295.00 price target on shares of Atlassian in a research note on Friday, May 1st. Truist Financial lifted their price target on Atlassian from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Raymond James Financial set a $130.00 price target on Atlassian in a research note on Friday, May 1st. Finally, Guggenheim set a $115.00 price target on Atlassian in a research note on Thursday, April 9th.

Atlassian Stock Performance

Shares of TEAM opened at $82.72 on Friday. The business’s 50-day moving average price is $83.38 and its 200 day moving average price is $102.39. The stock has a market capitalization of $20.99 billion, a P/E ratio of -99.66, a P/E/G ratio of 4.69 and a beta of 1.07. Atlassian has a 1-year low of $56.01 and a 1-year high of $222.59. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.13.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.42. The firm 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%.Atlassian’s revenue was up 31.7% on a year-over-year basis. During the same quarter last year, the business posted $0.97 EPS. Analysts expect that Atlassian will post 0.81 earnings per share for the current year.

Insider Activity

In related news, CRO Brian Duffy sold 3,000 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $89.71, for a total value of $269,130.00. Following the completion of the sale, the executive directly owned 227,691 shares of the company’s stock, valued at approximately $20,426,159.61. This represents a 1.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James Chuong sold 8,838 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total value of $775,534.50. Following the completion of the sale, the chief financial officer directly owned 288,272 shares of the company’s stock, valued at approximately $25,295,868. This represents a 2.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 20,041 shares of company stock valued at $1,801,069. Company insiders own 36.66% of the company’s stock.

Institutional Investors Weigh In On Atlassian

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Atlassian by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 18,541,267 shares of the technology company’s stock worth $3,006,281,000 after acquiring an additional 61,706 shares in the last quarter. Baillie Gifford & Co. lifted its stake in Atlassian by 3.9% in the 4th quarter. Baillie Gifford & Co. now owns 8,431,802 shares of the technology company’s stock worth $1,367,132,000 after acquiring an additional 316,276 shares in the last quarter. AQR Capital Management LLC lifted its stake in Atlassian by 291.4% in the 4th quarter. AQR Capital Management LLC now owns 7,749,694 shares of the technology company’s stock worth $1,256,535,000 after acquiring an additional 5,769,788 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in Atlassian by 27.4% in the 1st quarter. Pictet Asset Management Holding SA now owns 5,031,413 shares of the technology company’s stock worth $343,344,000 after acquiring an additional 1,080,561 shares in the last quarter. Finally, Morgan Stanley lifted its stake in Atlassian by 52.4% in the 4th quarter. Morgan Stanley now owns 4,822,007 shares of the technology company’s stock worth $781,841,000 after acquiring an additional 1,657,309 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Company Profile

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.