Atlassian Corporation PLC (NASDAQ:TEAM) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Atlassian Corporation PLC (NASDAQ:TEAM) have received a consensus rating of “Moderate Buy” from the thirty brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and twenty-five have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $183.8148.

Several analysts have recently commented on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Atlassian in a report on Monday, June 29th. KeyCorp boosted their target price on shares of Atlassian from $115.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Zacks Research downgraded Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. FBN Securities reissued an “outperform” rating and issued a $170.00 price objective on shares of Atlassian in a report on Monday, August 10th. Finally, Citizens Jmp restated a “market perform” rating on shares of Atlassian in a research note on Wednesday, July 1st.

Atlassian Price Performance

NASDAQ TEAM opened at $176.42 on Friday. The company has a market cap of $44.77 billion, a price-to-earnings ratio of -928.53, a PEG ratio of 14.90 and a beta of 1.15. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.78 and a quick ratio of 0.78. The stock’s fifty day moving average price is $130.19 and its 200 day moving average price is $97.10. Atlassian has a 1 year low of $56.01 and a 1 year high of $198.60.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.37. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%.The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the business earned $0.98 EPS. The company’s quarterly revenue was up 27.6% compared to the same quarter last year. As a group, equities research analysts forecast that Atlassian will post 0.94 earnings per share for the current year.

Insider Buying and Selling at Atlassian

In other Atlassian news, CFO James Chuong sold 9,054 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total value of $1,561,362.30. Following the sale, the chief financial officer owned 279,218 shares in the company, valued at approximately $48,151,144.10. This represents a 3.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Gene Liu sold 1,125 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $175.00, for a total transaction of $196,875.00. Following the sale, the chief accounting officer directly owned 56,807 shares in the company, valued at $9,941,225. The trade was a 1.94% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 26,570 shares of company stock valued at $4,148,151. 36.66% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its stake in shares of Atlassian by 7,498.4% during the 2nd quarter. California State Teachers Retirement System now owns 17,767,858 shares of the technology company’s stock worth $1,382,162,000 after acquiring an additional 17,534,021 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Atlassian by 291.4% in the 4th quarter. AQR Capital Management LLC now owns 7,749,694 shares of the technology company’s stock valued at $1,256,535,000 after purchasing an additional 5,769,788 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in Atlassian by 27.4% in the 1st quarter. Pictet Asset Management Holding SA now owns 5,031,413 shares of the technology company’s stock worth $343,344,000 after purchasing an additional 1,080,561 shares during the period. Morgan Stanley boosted its position in Atlassian by 52.4% during the fourth quarter. Morgan Stanley now owns 4,822,007 shares of the technology company’s stock worth $781,841,000 after purchasing an additional 1,657,309 shares in the last quarter. Finally, State Street Corp boosted its position in Atlassian by 3.3% during the fourth quarter. State Street Corp now owns 3,995,100 shares of the technology company’s stock worth $647,766,000 after purchasing an additional 127,105 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Company Profile

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.