Atlassian (TEAM) – Research Analysts’ Recent Ratings Updates

Several analysts have recently updated their ratings and price targets for Atlassian (NASDAQ: TEAM):

• 1/7/2025 – Atlassian was upgraded by analysts at Truist Financial Co. from a “hold” rating to a “buy” rating. They now have a $300.00 price target on the stock, up previously from $250.00.
• 1/6/2025 – Atlassian had its price target raised by analysts at Piper Sandler from $265.00 to $310.00. They now have an “overweight” rating on the stock.
• 1/6/2025 – Atlassian had its price target raised by analysts at Oppenheimer Holdings Inc. from $270.00 to $300.00. They now have an “outperform” rating on the stock.
• 12/20/2024 – Atlassian had its price target raised by analysts at Canaccord Genuity Group Inc. from $255.00 to $285.00. They now have a “buy” rating on the stock.
• 12/13/2024 – Atlassian had its price target raised by analysts at Mizuho from $240.00 to $285.00. They now have an “outperform” rating on the stock.
• 12/12/2024 – Atlassian is now covered by analysts at Macquarie. They set a “neutral” rating and a $290.00 price target on the stock.
• 12/12/2024 – Atlassian had its price target raised by analysts at Truist Financial Co. from $200.00 to $250.00. They now have a “hold” rating on the stock.
• 12/5/2024 – Atlassian had its price target raised by analysts at Wells Fargo & Company from $300.00 to $350.00. They now have an “overweight” rating on the stock.
• 12/5/2024 – Atlassian had its price target raised by analysts at KeyCorp from $260.00 to $315.00. They now have an “overweight” rating on the stock.
• 11/14/2024 – Atlassian had its price target raised by analysts at Jefferies Financial Group Inc. from $280.00 to $300.00. They now have a “buy” rating on the stock.

Atlassian Stock Performance

Shares of NASDAQ TEAM traded down $3.36 during mid-day trading on Wednesday, reaching $244.49. 1,659,500 shares of the company were exchanged, compared to its average volume of 2,011,765. The stock has a market capitalization of $63.67 billion, a P/E ratio of -160.85 and a beta of 0.83. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The company’s 50-day simple moving average is $251.77 and its 200-day simple moving average is $198.18. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $287.97.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.13. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.07) EPS. As a group, research analysts predict that Atlassian Co. will post -0.54 earnings per share for the current year.

Insider Buying and Selling

In related news, CTO Rajeev Bashyam Rajan sold 5,172 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $190.00, for a total transaction of $982,680.00. Following the completion of the sale, the chief technology officer now directly owns 204,109 shares in the company, valued at $38,780,710. This represents a 2.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $243.35, for a total value of $1,934,145.80. Following the completion of the sale, the chief executive officer now directly owns 445,088 shares in the company, valued at $108,312,164.80. This trade represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 277,350 shares of company stock worth $64,990,352. Company insiders own 38.55% of the company’s stock.

Institutional Trading of Atlassian

A number of hedge funds have recently made changes to their positions in TEAM. GAMMA Investing LLC raised its position in Atlassian by 22.9% during the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock worth $71,000 after purchasing an additional 54 shares during the last quarter. Legacy Wealth Asset Management LLC lifted its stake in shares of Atlassian by 2.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock worth $544,000 after acquiring an additional 70 shares during the period. Brown Brothers Harriman & Co. lifted its stake in shares of Atlassian by 23.2% in the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after acquiring an additional 82 shares during the period. Commerce Bank boosted its holdings in Atlassian by 1.8% in the third quarter. Commerce Bank now owns 4,966 shares of the technology company’s stock valued at $789,000 after acquiring an additional 90 shares during the last quarter. Finally, Asset Dedication LLC raised its holdings in Atlassian by 229.8% during the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after purchasing an additional 108 shares during the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

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.