Analysts Set Atlassian Co. (NASDAQ:TEAM) Target Price at $318.43

Shares of Atlassian Co. (NASDAQ:TEAM) have earned an average rating of “Moderate Buy” from the twenty-four analysts that are presently covering the company, Marketbeat reports. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $319.71.

Several analysts recently issued reports on TEAM shares. Robert W. Baird raised their price target on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Piper Sandler raised their price target on Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Morgan Stanley lifted their target price on Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. KeyCorp lifted their target price on Atlassian from $315.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Citigroup lifted their target price on Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, January 17th.

Insider Activity

In other Atlassian news, Director Heather Mirjahangir Fernandez sold 3,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $275.00, for a total value of $825,000.00. Following the completion of the sale, the director now owns 5,610 shares of the company’s stock, valued at $1,542,750. The trade was a 34.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $239.19, for a total value of $1,901,082.12. Following the completion of the sale, the chief executive officer now directly owns 230,492 shares of the company’s stock, valued at $55,131,381.48. This represents a 3.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 264,653 shares of company stock worth $70,451,743. 38.55% of the stock is owned by corporate insiders.

Institutional Trading of Atlassian

Institutional investors and hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. lifted its position in shares of Atlassian by 0.9% during the 3rd quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock worth $1,352,115,000 after purchasing an additional 78,454 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Atlassian by 72.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock worth $1,042,737,000 after purchasing an additional 1,806,042 shares during the last quarter. State Street Corp lifted its position in shares of Atlassian by 0.3% during the 3rd quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock worth $565,424,000 after purchasing an additional 8,957 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Atlassian during the 4th quarter worth about $687,486,000. Finally, FMR LLC lifted its position in shares of Atlassian by 7.4% during the 3rd quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock worth $346,679,000 after purchasing an additional 150,237 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Price Performance

Shares of TEAM opened at $318.45 on Thursday. The firm has a market cap of $83.43 billion, a price-to-earnings ratio of -237.65 and a beta of 0.87. Atlassian has a 52 week low of $135.29 and a 52 week high of $326.00. The company has a current ratio of 1.24, a quick ratio of 1.18 and a debt-to-equity ratio of 0.81. The stock has a 50 day moving average of $267.99 and a 200-day moving average of $215.44.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. As a group, analysts forecast that Atlassian will post -0.34 EPS for the current year.

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.