Atlassian (NASDAQ:TEAM) Shares Gap Down on Analyst Downgrade

Atlassian Corporation PLC (NASDAQ:TEAM)’s stock price gapped down prior to trading on Friday after BTIG Research lowered their price target on the stock from $260.00 to $240.00. The stock had previously closed at $183.29, but opened at $154.92. BTIG Research currently has a buy rating on the stock. Atlassian shares last traded at $157.1230, with a volume of 1,505,711 shares changing hands.

Several other research analysts have also recently commented on TEAM. Oppenheimer upped their target price on shares of Atlassian from $200.00 to $275.00 and gave the stock an “outperform” rating in a research report on Thursday, October 22nd. Wells Fargo & Company lifted their price target on Atlassian from $230.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th. Wall Street Zen upgraded Atlassian from a “hold” rating to a “buy” rating in a research report on Sunday, September 13th. Bank of America boosted their price objective on Atlassian from $175.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, August 31st. Finally, FBN Securities reissued an “outperform” rating and issued a $170.00 price objective on shares of Atlassian in a report on Monday, August 10th. Twenty-four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $217.56.

Insider Activity at Atlassian

In other news, CRO Brian Duffy sold 7,617 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $163.00, for a total value of $1,241,571.00. Following the completion of the sale, the executive directly owned 220,074 shares of the company’s stock, valued at approximately $35,872,062. This represents a 3.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Gene Liu sold 1,125 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $175.00, for a total transaction of $196,875.00. Following the completion of the sale, the chief accounting officer directly owned 56,807 shares of the company’s stock, valued at approximately $9,941,225. This represents a 1.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 22,475 shares of company stock worth $3,822,643 in the last 90 days. Corporate insiders own 37.63% of the company’s stock.

Trending Headlines about Atlassian

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: For fiscal Q1 2027, Atlassian reported earnings of $1.65 per share, topping the $1.39 consensus, and revenue of $1.77 billion versus estimates of $1.71 billion. Revenue rose 23.7% year over year. The company also cited 44% growth in remaining performance obligations and a sevenfold increase in Teamwork Collection customers year over year. Atlassian Q1 fiscal 2027 results
• Positive Sentiment: Analyst views remained constructive: BTIG lowered its price target to $240 but kept a Buy rating, while Piper Sandler raised its target to $190 and maintained Overweight. BTIG Research ratings Piper Sandler ratings
• Neutral Sentiment: Management’s discussion of cloud-migration progress and AI monetization is a key focus for investors assessing whether new AI capabilities can translate into durable growth and revenue. Atlassian cloud migration and AI strategy
• Negative Sentiment: Despite beating quarterly estimates and issuing guidance described as above consensus, Atlassian’s stock dropped sharply after the report. Coverage pointed to concerns about the growth outlook and the possibility that strong results were not enough to meet elevated investor expectations. Atlassian Q3 CY2026 results and market reaction

Hedge Funds Weigh In On Atlassian

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TEAM. Carmignac Gestion increased its holdings in shares of Atlassian by 115.8% in the first quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company’s stock valued at $177,707,000 after buying an additional 1,397,402 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Atlassian by 48.4% during the 1st quarter. First Trust Advisors LP now owns 2,349,842 shares of the technology company’s stock valued at $160,377,000 after acquiring an additional 766,922 shares during the last quarter. KBC Group NV boosted its stake in shares of Atlassian by 1,691.2% during the 1st quarter. KBC Group NV now owns 1,440,019 shares of the technology company’s stock worth $98,281,000 after acquiring an additional 1,359,624 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Atlassian by 111.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 469,100 shares of the technology company’s stock worth $84,105,000 after acquiring an additional 247,540 shares in the last quarter. Finally, Artemis Investment Management LLP boosted its stake in shares of Atlassian by 53.0% during the 3rd quarter. Artemis Investment Management LLP now owns 461,537 shares of the technology company’s stock worth $82,749,000 after acquiring an additional 159,884 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

Atlassian Trading Down 14.4%

The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market capitalization of $39.72 billion, a P/E ratio of -822.35, a price-to-earnings-growth ratio of 20.25 and a beta of 1.16. The firm has a 50 day moving average price of $196.69 and a two-hundred day moving average price of $119.39.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, November 5th. The technology company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.26. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the firm earned $1.04 earnings per share. Atlassian’s revenue for the quarter was up 23.7% compared to the same quarter last year. On average, equities research analysts expect that Atlassian Corporation PLC will post 0.69 EPS for the current fiscal year.

About Atlassian

Atlassian Corporation develops collaboration, project-management and workflow software for technology, business and service teams. Its products are designed to help organizations plan projects, manage software development, coordinate work and share knowledge across departments.

Its product portfolio includes Jira for project and issue tracking, Confluence for team collaboration and knowledge management, Jira Service Management for IT and enterprise service workflows, Trello for organizing tasks and projects, Loom for video messaging and screen recording, and Bitbucket for source-code management and collaboration.