Atlassian Corporation PLC (NASDAQ:TEAM – Get Free Report)’s stock price dropped 5.5% during mid-day trading on Tuesday . The company traded as low as $88.61 and last traded at $90.8430. Approximately 979,946 shares were traded during trading, a decline of 85% from the average session volume of 6,510,458 shares. The stock had previously closed at $96.16.
Atlassian News Roundup
Here are the key news stories impacting Atlassian this week:
- Positive Sentiment: Atlassian announced a new Jira system for AI-native software development, emphasizing governance, context, and workflow support as companies look to make AI coding tools more productive and controllable. Atlassian Announces System for AI-native Software Development in Jira
- Positive Sentiment: Investor sentiment toward TEAM also improved after a softer-than-expected PPI reading eased concerns about an enterprise software spending slowdown, helping software names trade up broadly. Atlassian, Sprout Social, and Flywire Stocks Trade Up, What You Need To Know
- Positive Sentiment: Analyst commentary highlighted that Atlassian’s Service Collection has surpassed $1 billion in annual recurring revenue, reinforcing the idea that AI adoption, enterprise demand, and cloud migration are still supporting growth. TEAM’s Service Collection Tops $1B: Is Growth Set to Accelerate?
- Positive Sentiment: Atlassian also gained attention from Gartner recognition, which may have added to the view that the company remains a leading enterprise software platform. Atlassian (TEAM) Gains On Gartner Recognition, Is The Stock Overvalued Or Undervalued?
- Neutral Sentiment: Atlassian announced it will report fourth-quarter and fiscal 2026 results on August 6, which keeps investors focused on the upcoming earnings update but is not a direct catalyst by itself. Atlassian Announces Date for Fourth Quarter and Fiscal Year 2026 Financial Results
- Neutral Sentiment: SmartBear said it is adding Atlassian integrations for AI-powered testing and governance, underscoring Atlassian’s role in the developer ecosystem but not materially changing the near-term outlook on its own. SmartBear Expands AI-Powered Testing Across Developer Ecosystems…
- Negative Sentiment: Earlier in the week, TEAM had traded lower after IBM’s warning raised concerns that enterprises may be trimming software budgets, a headwind that still hangs over the sector. Atlassian, monday.com, and Agilysys Stocks Trade Down, What You Need To Know
Analyst Upgrades and Downgrades
TEAM has been the subject of several analyst reports. Mizuho cut their target price on Atlassian from $185.00 to $145.00 and set an “outperform” rating for the company in a research note on Tuesday, April 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Atlassian in a research report on Monday, April 20th. Guggenheim set a $115.00 price target on shares of Atlassian in a report on Thursday, April 9th. BTIG Research restated a “buy” rating and issued a $130.00 price objective on shares of Atlassian in a research report on Friday, July 10th. Finally, Barclays boosted their price objective on shares of Atlassian from $106.00 to $112.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Twenty-one analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and an average price target of $142.15.
Atlassian Stock Performance
The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13. The company’s 50-day moving average is $88.70 and its two-hundred day moving average is $92.39. The company has a market capitalization of $23.29 billion, a P/E ratio of -110.57, a PEG ratio of 5.02 and a beta of 1.11.
Atlassian (NASDAQ:TEAM – Get Free Report) last announced its earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.42. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same period in the previous year, the business posted $0.97 earnings per share. Atlassian’s revenue for the quarter was up 31.7% on a year-over-year basis. Equities analysts anticipate that Atlassian Corporation PLC will post 0.81 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, CRO Brian Duffy sold 3,000 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $89.71, for a total value of $269,130.00. Following the completion of the transaction, the executive directly owned 227,691 shares in the company, valued at approximately $20,426,159.61. The trade was a 1.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James Chuong sold 8,838 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total value of $775,534.50. Following the completion of the transaction, the chief financial officer directly owned 288,272 shares in the company, valued at approximately $25,295,868. This represents a 2.97% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 20,041 shares of company stock valued at $1,801,069 over the last ninety days. 36.66% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Atlassian
Institutional investors have recently modified their holdings of the company. MV Capital Management Inc. purchased a new stake in Atlassian in the fourth quarter worth approximately $25,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Atlassian by 139.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 378 shares of the technology company’s stock worth $29,000 after acquiring an additional 220 shares in the last quarter. Western Wealth Management LLC bought a new stake in shares of Atlassian in the 1st quarter worth approximately $30,000. State of Wyoming lifted its holdings in shares of Atlassian by 65.7% in the 1st quarter. State of Wyoming now owns 449 shares of the technology company’s stock worth $31,000 after acquiring an additional 178 shares during the last quarter. Finally, Board of the Pension Protection Fund purchased a new stake in shares of Atlassian in the 4th quarter valued at $32,000. 94.45% of the stock is currently owned by institutional investors.
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.
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