Atlassian (NASDAQ:TEAM) PT Lowered to $230.00

Atlassian (NASDAQ:TEAM) had its target price decreased by stock analysts at Robert W. Baird from $270.00 to $230.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price target would suggest a potential upside of 15.92% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. UBS Group lowered their price target on Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. Barclays upgraded Atlassian from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $235.00 to $275.00 in a research note on Thursday, April 11th. Wells Fargo & Company raised their price objective on Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Truist Financial raised their price objective on Atlassian from $180.00 to $220.00 and gave the stock a “hold” rating in a research note on Tuesday, January 16th. Finally, KeyCorp initiated coverage on Atlassian in a research note on Tuesday, March 19th. They issued a “sector weight” rating for the company. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $223.12.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $198.41 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $51.47 billion, a PE ratio of -133.16 and a beta of 0.63. The business has a 50-day simple moving average of $200.55 and a two-hundred day simple moving average of $206.69. Atlassian has a fifty-two week low of $128.02 and a fifty-two week high of $258.69.

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

Insider Activity

In other news, CAO Gene Liu sold 227 shares of Atlassian stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $48,321.49. Following the completion of the sale, the chief accounting officer now owns 47,066 shares of the company’s stock, valued at $10,018,939.42. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $199.71, for a total transaction of $1,645,810.11. Following the transaction, the chief executive officer now owns 366,450 shares in the company, valued at $73,183,729.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Gene Liu sold 227 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $48,321.49. Following the transaction, the chief accounting officer now owns 47,066 shares in the company, valued at approximately $10,018,939.42. The disclosure for this sale can be found here. Insiders sold a total of 300,450 shares of company stock valued at $61,721,553 over the last quarter. Company insiders own 40.48% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Atlassian by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock valued at $3,652,495,000 after buying an additional 504,181 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Atlassian by 3.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,237,507 shares of the technology company’s stock valued at $2,435,095,000 after buying an additional 326,673 shares in the last quarter. WCM Investment Management LLC raised its stake in Atlassian by 2.7% during the fourth quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock valued at $2,325,490,000 after buying an additional 249,017 shares in the last quarter. Baillie Gifford & Co. raised its stake in Atlassian by 20.7% during the fourth quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock valued at $2,094,980,000 after buying an additional 1,511,318 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its stake in Atlassian by 1.1% during the third quarter. Artisan Partners Limited Partnership now owns 6,048,160 shares of the technology company’s stock valued at $1,218,765,000 after buying an additional 63,903 shares in the last quarter. 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.