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

Atlassian Corporation PLC (NASDAQ:TEAM) has earned an average rating of “Moderate Buy” from the twenty-nine analysts that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and twenty-two have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $180.4815.

A number of research firms recently weighed in on TEAM. BNP Paribas Exane initiated coverage on shares of Atlassian in a report on Monday. They issued an “outperform” rating and a $95.00 target price on the stock. Barclays dropped their target price on Atlassian from $215.00 to $165.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. BMO Capital Markets set a $130.00 price target on Atlassian and gave the company an “outperform” rating in a research report on Friday, February 6th. UBS Group reaffirmed a “neutral” rating and issued a $105.00 price objective on shares of Atlassian in a research report on Friday, February 6th. Finally, Morgan Stanley cut their price objective on Atlassian from $320.00 to $290.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $74.60 on Friday. The firm has a 50 day moving average of $97.72 and a 200-day moving average of $138.40. Atlassian has a 12 month low of $67.85 and a 12 month high of $242.00. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $19.68 billion, a PE ratio of -103.61 and a beta of 0.94.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, February 5th. The technology company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.10. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Atlassian had a negative return on equity of 6.33% and a negative net margin of 3.29%.The company’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.96 earnings per share. On average, equities research analysts predict that Atlassian will post -0.34 EPS for the current fiscal year.

Insider Transactions at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $154.20, for a total value of $1,181,943.00. Following the sale, the chief executive officer owned 444,570 shares of the company’s stock, valued at approximately $68,552,694. The trade was a 1.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Scott Farquhar sold 7,665 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $156.15, for a total transaction of $1,196,889.75. Following the completion of the transaction, the director owned 459,900 shares in the company, valued at approximately $71,813,385. The trade was a 1.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 297,283 shares of company stock worth $40,674,300 over the last three months. 36.66% of the stock is owned by insiders.

Hedge Funds Weigh In On Atlassian

Several institutional investors have recently bought and sold shares of TEAM. Rockefeller Capital Management L.P. increased its position in shares of Atlassian by 29.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 8,056 shares of the technology company’s stock valued at $1,306,000 after buying an additional 1,818 shares during the period. DUTCH ASSET Corp purchased a new position in Atlassian during the 4th quarter valued at about $448,000. Larry Mathis Financial Planning LLC bought a new position in Atlassian during the 4th quarter valued at approximately $364,000. Corient Private Wealth LLC lifted its holdings in Atlassian by 4.2% in the 4th quarter. Corient Private Wealth LLC now owns 8,602 shares of the technology company’s stock worth $1,395,000 after buying an additional 344 shares during the period. Finally, Reflection Asset Management bought a new stake in shares of Atlassian in the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

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.