Atlassian (NASDAQ:TEAM) Stock Price Expected to Rise, Truist Financial Analyst Says

Atlassian (NASDAQ:TEAM) had its price objective hoisted by Truist Financial from $200.00 to $250.00 in a research report report published on Thursday,Benzinga reports. They currently have a hold rating on the technology company’s stock.

Several other equities analysts also recently commented on the company. Piper Sandler upped their target price on Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Robert W. Baird upped their price objective on Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Canaccord Genuity Group lifted their target price on Atlassian from $225.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Mizuho upped their price target on shares of Atlassian from $200.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, KeyCorp raised their price target on shares of Atlassian from $260.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and an average target price of $254.25.

Atlassian Stock Up 1.6 %

TEAM stock opened at $279.18 on Thursday. Atlassian has a one year low of $135.29 and a one year high of $287.97. The company has a fifty day moving average price of $226.93 and a two-hundred day moving average price of $185.86. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the firm posted ($0.07) EPS. Atlassian’s revenue was up 21.5% compared to the same quarter last year. Equities analysts anticipate that Atlassian will post -0.54 earnings per share for the current year.

Insider Transactions at Atlassian

In related news, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $269.35, for a total transaction of $2,140,793.80. Following the completion of the transaction, the director now directly owns 111,272 shares in the company, valued at $29,971,113.20. This represents a 6.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Heather Mirjahangir Fernandez sold 3,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $275.00, for a total transaction of $825,000.00. Following the completion of the transaction, the director now directly owns 5,610 shares of the company’s stock, valued at approximately $1,542,750. The trade was a 34.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 268,642 shares of company stock valued at $56,073,616. Corporate insiders own 38.55% of the company’s stock.

Institutional Investors Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently bought and sold shares of TEAM. Asset Dedication LLC raised its position in Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after purchasing an additional 108 shares during the last quarter. Rothschild Investment LLC acquired a new position in shares of Atlassian in the second quarter valued at approximately $36,000. GAMMA Investing LLC raised its holdings in Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after buying an additional 96 shares during the last quarter. True Wealth Design LLC boosted its position in Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after buying an additional 231 shares during the period. Finally, Reston Wealth Management LLC acquired a new stake in Atlassian during the 3rd quarter worth approximately $48,000. Institutional investors own 94.45% of the company’s stock.

About Atlassian

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.