Atlassian (NASDAQ:TEAM) Stock Rating Reaffirmed by Oppenheimer

Atlassian (NASDAQ:TEAM)‘s stock had its “outperform” rating reaffirmed by stock analysts at Oppenheimer in a research note issued to investors on Monday, Benzinga reports. They presently have a $230.00 target price on the technology company’s stock. Oppenheimer’s price target suggests a potential upside of 41.43% from the stock’s previous close.

Several other equities research analysts have also issued reports on TEAM. Wells Fargo & Company lowered their target price on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. JMP Securities upgraded Atlassian to a “hold” rating in a research report on Friday, August 2nd. Scotiabank reduced their price objective on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Finally, Mizuho dropped their target price on shares of Atlassian from $225.00 to $220.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $217.69.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $162.62 on Monday. Atlassian has a 52 week low of $135.29 and a 52 week high of $258.69. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. The firm has a market cap of $42.33 billion, a P/E ratio of -258.13 and a beta of 0.73. The business’s 50 day moving average price is $161.22 and its 200 day moving average price is $174.62.

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

Insider Buying and Selling at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $162.27, for a total value of $1,289,721.96. Following the completion of the transaction, the chief executive officer now directly owns 39,740 shares in the company, valued at $6,448,609.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $162.27, for a total transaction of $1,289,721.96. Following the transaction, the chief executive officer now owns 39,740 shares in the company, valued at approximately $6,448,609.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction on Friday, July 19th. The shares were sold at an average price of $175.00, for a total transaction of $133,000.00. Following the completion of the transaction, the president now directly owns 152,534 shares in the company, valued at $26,693,450. The disclosure for this sale can be found here. Insiders have sold 232,211 shares of company stock worth $38,945,503 over the last quarter. 40.48% of the stock is currently owned by company insiders.

Institutional Trading of Atlassian

Several hedge funds have recently made changes to their positions in TEAM. Dimensional Fund Advisors LP increased its holdings in Atlassian by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 142,466 shares of the technology company’s stock valued at $33,891,000 after buying an additional 2,872 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Atlassian by 255.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock valued at $96,000 after buying an additional 291 shares during the last quarter. US Bancorp DE lifted its stake in shares of Atlassian by 50.9% during the fourth quarter. US Bancorp DE now owns 51,014 shares of the technology company’s stock valued at $12,134,000 after buying an additional 17,198 shares during the period. Advisory Services Network LLC lifted its position in Atlassian by 37.7% during the fourth quarter. Advisory Services Network LLC now owns 13,058 shares of the technology company’s stock worth $3,106,000 after buying an additional 3,576 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in shares of Atlassian by 30.7% during the 4th quarter. Hsbc Holdings PLC now owns 89,446 shares of the technology company’s stock worth $21,298,000 after acquiring an additional 21,012 shares during the period. Institutional investors and hedge funds own 93.03% 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.