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

Atlassian Co. (NASDAQ:TEAM) has received an average rating of “Moderate Buy” from the twenty analysts that are covering the firm, MarketBeat.com reports. Ten research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $223.22.

Several research firms have issued reports on TEAM. KeyCorp started coverage on shares of Atlassian in a research report on Tuesday, March 19th. They issued a “sector weight” rating on the stock. Citigroup cut their price target on Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a report on Friday, April 12th. Robert W. Baird decreased their price objective on Atlassian from $270.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. StockNews.com upgraded Atlassian from a “hold” rating to a “buy” rating in a research note on Monday, April 29th. Finally, Barclays upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $235.00 to $275.00 in a research note on Thursday, April 11th.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $172.99, for a total value of $1,425,610.59. Following the completion of the transaction, the chief executive officer now directly owns 325,245 shares of the company’s stock, valued at $56,264,132.55. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Michael Cannon-Brookes sold 8,241 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $172.99, for a total value of $1,425,610.59. Following the transaction, the chief executive officer now owns 325,245 shares in the company, valued at $56,264,132.55. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Anutthara Bharadwaj sold 4,139 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total value of $881,068.93. Following the completion of the transaction, the president now owns 167,535 shares in the company, valued at approximately $35,663,175.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 300,450 shares of company stock valued at $59,897,078. Insiders own 40.48% of the company’s stock.

Hedge Funds Weigh In On Atlassian

Several hedge funds have recently added to or reduced their stakes in the company. Graypoint LLC boosted its holdings in Atlassian by 2.4% in the fourth quarter. Graypoint LLC now owns 1,784 shares of the technology company’s stock valued at $424,000 after acquiring an additional 42 shares during the last quarter. Legacy Wealth Asset Management LLC boosted its holdings in Atlassian by 1.4% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 3,095 shares of the technology company’s stock worth $736,000 after buying an additional 43 shares during the last quarter. Park National Corp OH boosted its holdings in Atlassian by 3.5% during the fourth quarter. Park National Corp OH now owns 1,439 shares of the technology company’s stock worth $342,000 after buying an additional 48 shares during the last quarter. First Trust Direct Indexing L.P. boosted its holdings in Atlassian by 1.5% during the first quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock worth $721,000 after buying an additional 55 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in Atlassian by 5.7% during the fourth quarter. UMB Bank n.a. now owns 1,041 shares of the technology company’s stock worth $248,000 after buying an additional 56 shares during the last quarter. Institutional investors own 93.03% of the company’s stock.

Atlassian Stock Down 1.0 %

Atlassian stock opened at $181.77 on Tuesday. The firm has a market cap of $47.31 billion, a price-to-earnings ratio of -288.52 and a beta of 0.67. The firm has a fifty day moving average price of $196.77 and a two-hundred day moving average price of $205.99. Atlassian has a fifty-two week low of $128.02 and a fifty-two week high of $258.69. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the firm posted ($0.40) EPS. The company’s revenue was up 29.9% on a year-over-year basis. As a group, analysts forecast that Atlassian will post -0.29 earnings per share for the current year.

About Atlassian

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.