Atlassian Corporation PLC (NASDAQ:TEAM) Stock Rated “Moderate Buy” by Wall Street Analysts

Shares of Atlassian Corporation PLC (NASDAQ:TEAM) have been given an average rating of “Moderate Buy” by the thirty analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and twenty-five have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $191.56.

A number of research firms recently commented on TEAM. KeyCorp lifted their price target on shares of Atlassian from $115.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Royal Bank Of Canada began coverage on Atlassian in a report on Tuesday, August 25th. They set an “outperform” rating and a $215.00 price objective for the company. FBN Securities reissued an “outperform” rating and issued a $170.00 target price on shares of Atlassian in a research report on Monday, August 10th. Guggenheim boosted their target price on Atlassian from $115.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Truist Financial upped their price target on Atlassian from $160.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, August 20th.

Insider Activity at Atlassian

In other news, CFO James Chuong sold 9,054 shares of Atlassian stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total value of $1,561,362.30. Following the completion of the transaction, the chief financial officer owned 279,218 shares in the company, valued at $48,151,144.10. This trade represents a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Gene Liu sold 939 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $190.00, for a total transaction of $178,410.00. Following the completion of the sale, the chief accounting officer directly owned 55,868 shares in the company, valued at approximately $10,614,920. This trade represents a 1.65% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 22,138 shares of company stock worth $3,751,873. Company insiders own 36.66% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in shares of Atlassian by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 2,465,854 shares of the technology company’s stock worth $398,417,000 after acquiring an additional 67,185 shares in the last quarter. Pictet Asset Management Holding SA grew its position in shares of Atlassian by 27.4% in the first quarter. Pictet Asset Management Holding SA now owns 5,031,413 shares of the technology company’s stock valued at $343,344,000 after purchasing an additional 1,080,561 shares in the last quarter. Norges Bank bought a new stake in shares of Atlassian during the 4th quarter valued at $323,526,000. Carmignac Gestion raised its stake in shares of Atlassian by 115.8% during the 1st quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company’s stock valued at $177,707,000 after purchasing an additional 1,397,402 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Atlassian by 48.4% during the 1st quarter. First Trust Advisors LP now owns 2,349,842 shares of the technology company’s stock worth $160,377,000 after purchasing an additional 766,922 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $187.89 on Tuesday. The company has a market capitalization of $47.68 billion, a P/E ratio of -988.89, a price-to-earnings-growth ratio of 14.76 and a beta of 1.22. The company’s 50-day moving average is $165.67 and its 200 day moving average is $110.84. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.78 and a current ratio of 0.78. Atlassian has a fifty-two week low of $56.01 and a fifty-two week high of $200.00.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Friday, August 7th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.37. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.66 billion. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. The firm’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.98 earnings per share. On average, equities research analysts forecast that Atlassian will post 0.94 earnings per share for the current year.

About Atlassian

Atlassian Corporation develops collaboration, productivity and workflow-management software for technology, business and enterprise teams. Its products are designed to help organizations plan projects, manage software development, document and share knowledge, provide IT and customer support, and coordinate work across distributed teams.

Its product portfolio includes Jira for project and issue management, Confluence for team collaboration and knowledge sharing, Jira Service Management for IT service and support operations, and Trello for organizing tasks and projects.