Atlassian (NASDAQ:TEAM) Price Target Raised to $280.00 at Jefferies Financial Group

Atlassian (NASDAQ:TEAM) had its target price hoisted by equities research analysts at Jefferies Financial Group from $240.00 to $280.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 20.96% from the stock’s current price.

Several other equities research analysts also recently issued reports on TEAM. Robert W. Baird increased their price objective on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday. JMP Securities raised shares of Atlassian to a “hold” rating in a research note on Friday, August 2nd. BMO Capital Markets upped their price target on shares of Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a research note on Friday. Canaccord Genuity Group lifted their price objective on Atlassian from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Scotiabank dropped their target price on Atlassian from $210.00 to $175.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and an average price target of $229.74.

Atlassian Price Performance

NASDAQ TEAM opened at $231.49 on Friday. The stock’s 50-day moving average price is $172.01 and its two-hundred day moving average price is $171.24. The company has a market cap of $60.19 billion, a PE ratio of -199.56 and a beta of 0.73. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. Atlassian has a 1 year low of $135.29 and a 1 year high of $258.69.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.07. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.21) EPS. On average, analysts predict that Atlassian will post -0.58 EPS for the current year.

Insider Activity at Atlassian

In related news, CEO Scott Farquhar sold 7,948 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $140.54, for a total transaction of $1,117,011.92. Following the transaction, the chief executive officer now owns 294,076 shares in the company, valued at $41,329,441.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction on Friday, September 20th. The shares were sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the sale, the president now owns 143,966 shares of the company’s stock, valued at approximately $23,482,294.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $140.54, for a total value of $1,117,011.92. Following the completion of the transaction, the chief executive officer now owns 294,076 shares in the company, valued at $41,329,441.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 230,185 shares of company stock valued at $39,155,661 in the last three months. Corporate insiders own 38.55% of the company’s stock.

Hedge Funds Weigh In On Atlassian

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Atlassian by 1.4% in the first quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock worth $3,039,287,000 after acquiring an additional 221,650 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Atlassian by 8.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after acquiring an additional 904,138 shares during the period. Dragoneer Investment Group LLC acquired a new stake in shares of Atlassian during the second quarter worth $469,803,000. Capital International Investors lifted its position in Atlassian by 6.3% in the 1st quarter. Capital International Investors now owns 2,436,567 shares of the technology company’s stock valued at $475,399,000 after acquiring an additional 144,117 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of Atlassian by 6.7% in the 1st quarter. Clearbridge Investments LLC now owns 2,070,928 shares of the technology company’s stock valued at $404,059,000 after purchasing an additional 130,253 shares during the period. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Company Profile

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.