Atlassian Co. (NASDAQ:TEAM) Given Average Recommendation of “Moderate Buy” by Analysts

12 Apr 2024

Defense World

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Atlassian Co NASDAQTEAM Given Average Recommendation of Moderate Buy
by Analysts

Shares of Atlassian Co. (NASDAQ:TEAM – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the eighteen research firms that are currently covering the company, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $226.75.

TEAM has been the topic of several recent research reports. KeyCorp initiated coverage on shares of Atlassian in a report on Tuesday, March 19th. They set a “sector weight” rating on the stock. Capital One Financial initiated coverage on shares of Atlassian in a report on Monday, December 18th. They set an “equal weight” rating and a $238.00 target price on the stock. Mizuho increased their target price on shares of Atlassian from $240.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, January 16th. StockNews.com lowered shares of Atlassian from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, Citigroup increased their target price on shares of Atlassian from $215.00 to $280.00 and gave the company a “buy” rating in a report on Monday, January 22nd.

View Our Latest Report on TEAM

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $214.65 on Friday. The company’s fifty day moving average price is $204.04 and its 200-day moving average price is $206.58. The firm has a market capitalization of $55.68 billion, a price-to-earnings ratio of -144.06 and a beta of 0.63. Atlassian has a one year low of $128.02 and a one year high of $258.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07.

Atlassian (NASDAQ:TEAM – Get Free Report) last issued its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. On average, equities research analysts anticipate that Atlassian will post -0.4 earnings per share for the current fiscal year.

Insider Transactions at Atlassian

In other news, CEO Michael Cannon-Brookes sold 8,241 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $201.81, for a total value of $1,663,116.21. Following the completion of the sale, the chief executive officer now directly owns 448,860 shares of the company’s stock, valued at approximately $90,584,436.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, President Anutthara Bharadwaj sold 2,470 shares of the stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $240.55, for a total value of $594,158.50. Following the completion of the transaction, the president now directly owns 171,674 shares in the company, valued at approximately $41,296,180.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 8,241 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $201.81, for a total transaction of $1,663,116.21. Following the completion of the transaction, the chief executive officer now owns 448,860 shares of the company’s stock, valued at $90,584,436.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 293,159 shares of company stock valued at $62,296,500. Company insiders own 40.48% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. OFI Invest Asset Management bought a new position in shares of Atlassian in the 3rd quarter worth about $26,000. Harbour Investments Inc. increased its stake in shares of Atlassian by 148.8% in the 4th quarter. Harbour Investments Inc. now owns 199 shares of the technology company’s stock worth $47,000 after acquiring an additional 119 shares in the last quarter. Tyler Stone Wealth Management bought a new position in shares of Atlassian in the 2nd quarter worth about $34,000. Meeder Asset Management Inc. increased its stake in shares of Atlassian by 151.5% in the 4th quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock worth $31,000 after acquiring an additional 147 shares in the last quarter. Finally, Carmel Capital Partners LLC increased its stake in shares of Atlassian by 28.5% in the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after acquiring an additional 57 shares in the last quarter. 93.03% of the stock is currently owned by institutional investors.

Atlassian Company Profile

(Get Free Report

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.