Atlassian Corporation PLC (NASDAQ:TEAM) Receives $239.23 Consensus PT from Analysts

Atlassian Corporation PLC (NASDAQ:TEAM) has received an average recommendation of “Moderate Buy” from the thirty-two brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $239.2308.

Several research firms have recently commented on TEAM. BTIG Research started coverage on Atlassian in a report on Tuesday, December 16th. They set a “buy” rating and a $220.00 price objective for the company. Zacks Research upgraded shares of Atlassian from a “strong sell” rating to a “hold” rating in a report on Monday, November 3rd. Robert W. Baird set a $230.00 price objective on shares of Atlassian in a research note on Friday, October 31st. Sanford C. Bernstein lifted their price objective on shares of Atlassian from $290.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday, November 18th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Atlassian in a report on Wednesday, October 8th.

Insider Activity at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,665 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $163.66, for a total value of $1,254,453.90. Following the transaction, the chief executive officer owned 15,330 shares in the company, valued at $2,508,907.80. This trade represents a 33.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $163.66, for a total value of $1,254,453.90. Following the transaction, the director directly owned 15,330 shares in the company, valued at approximately $2,508,907.80. The trade was a 33.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 566,379 shares of company stock valued at $88,715,526. Company insiders own 36.66% of the company’s stock.

Institutional Trading of Atlassian

Institutional investors have recently made changes to their positions in the company. Allworth Financial LP boosted its holdings in Atlassian by 21.6% during the third quarter. Allworth Financial LP now owns 3,161 shares of the technology company’s stock worth $505,000 after purchasing an additional 561 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Atlassian by 624.6% during the 3rd quarter. IFP Advisors Inc now owns 5,174 shares of the technology company’s stock worth $826,000 after buying an additional 4,460 shares in the last quarter. Swiss Life Asset Management Ltd boosted its stake in shares of Atlassian by 14.7% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 27,397 shares of the technology company’s stock worth $4,375,000 after buying an additional 3,505 shares during the last quarter. Cambria Investment Management L.P. bought a new position in shares of Atlassian in the third quarter valued at approximately $671,000. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of Atlassian during the third quarter valued at approximately $1,925,000. Institutional investors own 94.45% of the company’s stock.

Atlassian Stock Down 0.6%

Shares of NASDAQ TEAM opened at $162.93 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. The firm has a market cap of $42.87 billion, a PE ratio of -229.48, a P/E/G ratio of 25.40 and a beta of 0.89. The company’s fifty day simple moving average is $158.21 and its 200 day simple moving average is $171.38. Atlassian has a 12-month low of $139.70 and a 12-month high of $326.00.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, October 30th. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.21. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. The business’s revenue was up 20.6% on a year-over-year basis. As a group, sell-side analysts forecast that Atlassian will post -0.34 earnings per share for the current fiscal year.

About Atlassian

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.