Atlassian (NASDAQ:TEAM) Stock Price Target Lowered at BTIG Research

Atlassian (NASDAQ:TEAM) had its target price cut by BTIG Research from $260.00 to $240.00 in a research report report published on Friday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other equities research analysts have also recently issued reports on the company. Barclays boosted their price objective on Atlassian from $172.00 to $222.00 and gave the company an “overweight” rating in a research note on Tuesday, October 13th. Wells Fargo & Company lifted their target price on shares of Atlassian from $230.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 28th. Mizuho boosted their price target on shares of Atlassian from $215.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, October 15th. Morgan Stanley lifted their price objective on shares of Atlassian from $120.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $200.00 target price on shares of Atlassian in a report on Friday, August 7th. Twenty-four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and a consensus price target of $210.96.

Atlassian Stock Performance

Atlassian stock traded down $29.61 during trading on Friday, hitting $153.68. The stock had a trading volume of 7,474,600 shares, compared to its average volume of 2,508,672. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.93. The stock’s 50 day moving average is $196.05 and its two-hundred day moving average is $119.57. Atlassian has a 1 year low of $56.01 and a 1 year high of $229.96. The stock has a market cap of $38.90 billion, a price-to-earnings ratio of 426.90, a price-to-earnings-growth ratio of 19.95 and a beta of 1.16.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, November 5th. The technology company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.26. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.04 EPS. As a group, analysts predict that Atlassian will post 0.69 EPS for the current year.

Insider Transactions at Atlassian

In other news, CAO Gene Liu sold 337 shares of the firm’s stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $210.00, for a total value of $70,770.00. Following the completion of the transaction, the chief accounting officer directly owned 55,531 shares in the company, valued at approximately $11,661,510. This trade represents a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Brian Duffy sold 1,851 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total transaction of $319,204.95. Following the transaction, the executive directly owned 218,223 shares of the company’s stock, valued at approximately $37,632,556.35. This represents a 0.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 22,475 shares of company stock valued at $3,822,643. 37.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Carmignac Gestion increased its holdings in shares of Atlassian by 115.8% in the first quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company’s stock worth $177,707,000 after purchasing an additional 1,397,402 shares during the period. First Trust Advisors LP boosted its stake in Atlassian by 48.4% during the first quarter. First Trust Advisors LP now owns 2,349,842 shares of the technology company’s stock valued at $160,377,000 after buying an additional 766,922 shares during the period. KBC Group NV grew its position in Atlassian by 1,691.2% during the first quarter. KBC Group NV now owns 1,440,019 shares of the technology company’s stock worth $98,281,000 after buying an additional 1,359,624 shares in the last quarter. Swiss National Bank grew its position in Atlassian by 8.2% during the first quarter. Swiss National Bank now owns 493,267 shares of the technology company’s stock worth $33,665,000 after buying an additional 37,500 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Atlassian by 111.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 469,100 shares of the technology company’s stock worth $84,105,000 after acquiring an additional 247,540 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Key Atlassian News

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Fiscal Q1 revenue rose 23.7% year over year to $1.77 billion, while adjusted EPS of $1.65 topped the $1.39 consensus. Cloud revenue grew 30.5%, and the company reported stronger margins and free cash flow. Atlassian Q1 results
• Positive Sentiment: AI-related adoption showed momentum: Teamwork Collection customers grew sevenfold year over year, and remaining performance obligations increased 44%. Atlassian also guided to $7.5 billion in FY2027 revenue, above the $7.4 billion consensus. Q1 earnings call highlights
• Positive Sentiment: Piper Sandler raised its price target to $190 and kept an “overweight” rating, signaling continued optimism despite the post-earnings concerns. Piper Sandler target update
• Negative Sentiment: The main concern is deceleration: Atlassian expects next-quarter cloud growth of 27%, below Q1’s 30.5%, and increased its full-year cloud growth outlook only modestly, from 25.5% to 26%. Management cited timing-related Data Center revenue effects, dampening the impact of the quarterly beat. Cloud growth outlook
• Negative Sentiment: Several firms cut price targets, including Truist ($250 to $200), Wells Fargo ($270 to $200), and Oppenheimer ($275 to $240), though they maintained positive ratings. These reductions underscore investor concerns about growth expectations after the results. Truist rating update

Atlassian Company Profile

Atlassian Corporation develops collaboration and productivity software for software, IT and business teams. Its products help organizations plan and track work, manage software development and support services, and share information across teams.

Its product portfolio includes Jira for project and issue tracking, Confluence for team documentation and collaboration, Jira Service Management for IT and other service teams, Trello for visual work management, and Bitbucket for code collaboration.