Atlassian (NASDAQ:TEAM) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Atlassian (NASDAQ:TEAM) from a hold rating to a buy rating in a research report sent to investors on Monday morning.

Other analysts also recently issued reports about the company. Macquarie assumed coverage on Atlassian in a research report on Thursday, December 12th. They issued a “neutral” rating and a $290.00 price target for the company. Robert W. Baird raised their price target on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Wells Fargo & Company raised their price target on Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. UBS Group lifted their target price on Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, Morgan Stanley lifted their target price on Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $318.43.

Atlassian Stock Up 1.3 %

NASDAQ TEAM opened at $320.80 on Monday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market capitalization of $83.55 billion, a P/E ratio of -239.40 and a beta of 0.87. Atlassian has a one year low of $135.29 and a one year high of $324.37. The stock has a 50 day moving average price of $263.77 and a 200-day moving average price of $211.16.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 18.00% and a negative net margin of 7.22%. As a group, equities analysts predict that Atlassian will post -0.55 EPS for the current fiscal year.

Insider Buying and Selling at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $237.04, for a total value of $1,883,993.92. Following the completion of the sale, the director now owns 278,180 shares of the company’s stock, valued at approximately $65,939,787.20. This trade represents a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Gene Liu sold 779 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $320.01, for a total value of $249,287.79. Following the completion of the sale, the chief accounting officer now directly owns 52,710 shares of the company’s stock, valued at approximately $16,867,727.10. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 257,490 shares of company stock worth $66,864,604 over the last quarter. Insiders own 38.55% of the company’s stock.

Institutional Investors Weigh In On Atlassian

Several institutional investors have recently added to or reduced their stakes in TEAM. GAMMA Investing LLC boosted its holdings in Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares in the last quarter. True Wealth Design LLC boosted its holdings in Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after acquiring an additional 231 shares in the last quarter. Avion Wealth boosted its holdings in Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after acquiring an additional 157 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in Atlassian in the third quarter worth about $48,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Atlassian during the fourth quarter worth about $56,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

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.