Atlassian (NASDAQ:TEAM) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Atlassian (NASDAQ:TEAM) had its price target boosted by research analysts at Jefferies Financial Group from $300.00 to $325.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s target price points to a potential upside of 22.32% from the company’s previous close.

A number of other equities analysts have also weighed in on the stock. Mizuho upped their target price on shares of Atlassian from $240.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. KeyCorp increased their price objective on Atlassian from $260.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Oppenheimer boosted their target price on Atlassian from $270.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Truist Financial raised shares of Atlassian from a “hold” rating to a “buy” rating and raised their price target for the stock from $250.00 to $300.00 in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company increased their target price on shares of Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Nine research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and a consensus target price of $273.19.

Atlassian Stock Performance

TEAM stock opened at $265.70 on Friday. Atlassian has a 1-year low of $135.29 and a 1-year high of $287.97. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The firm has a market cap of $69.20 billion, a PE ratio of -174.80 and a beta of 0.83. The business’s 50-day moving average price is $256.87 and its two-hundred day moving average price is $203.61.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.13. The business had revenue of $1.19 billion for 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%. Atlassian’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.07) EPS. As a group, research analysts forecast that Atlassian will post -0.55 earnings per share for the current year.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 15,896 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the completion of the sale, the chief executive officer now owns 429,192 shares of the company’s stock, valued at approximately $104,529,711.60. This represents a 3.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $255.71, for a total transaction of $2,032,383.08. Following the sale, the director now owns 381,504 shares in the company, valued at $97,554,387.84. This represents a 2.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 264,240 shares of company stock worth $65,312,715. 38.55% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Atlassian

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in shares of Atlassian by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 150,393 shares of the technology company’s stock worth $26,597,000 after buying an additional 5,878 shares during the last quarter. Thrivent Financial for Lutherans bought a new position in shares of Atlassian in the second quarter worth about $677,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Atlassian by 62.8% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 30,135 shares of the technology company’s stock valued at $5,330,000 after purchasing an additional 11,628 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Atlassian by 7.5% during the 2nd quarter. Toronto Dominion Bank now owns 17,238 shares of the technology company’s stock valued at $3,049,000 after purchasing an additional 1,201 shares during the last quarter. Finally, AXA S.A. increased its position in Atlassian by 6.5% during the 2nd quarter. AXA S.A. now owns 13,702 shares of the technology company’s stock worth $2,424,000 after purchasing an additional 841 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

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.