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

Atlassian (NASDAQ:TEAM) had its price target increased by analysts at Jefferies Financial Group from $280.00 to $300.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s target price suggests a potential upside of 24.98% from the company’s current price.

Several other equities analysts also recently commented on the company. Oppenheimer increased their target price on Atlassian from $230.00 to $270.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Baird R W lowered Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Scotiabank raised their price objective on Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Raymond James upped their target price on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, UBS Group raised their price target on shares of Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.21.

Atlassian Stock Down 4.0 %

Shares of NASDAQ TEAM opened at $240.04 on Thursday. Atlassian has a 52 week low of $135.29 and a 52 week high of $258.69. The stock has a market capitalization of $62.51 billion, a P/E ratio of -157.92 and a beta of 0.71. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The stock’s fifty day moving average is $186.37 and its 200 day moving average is $174.14.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the firm earned ($0.07) EPS. Atlassian’s revenue was up 21.5% on a year-over-year basis. Sell-side analysts forecast that Atlassian will post -0.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $244.84, for a total value of $1,945,988.32. Following the transaction, the director now directly owns 270,232 shares of the company’s stock, valued at approximately $66,163,602.88. The trade was a 2.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Gene Liu sold 445 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $230.00, for a total transaction of $102,350.00. Following the transaction, the chief accounting officer now owns 58,723 shares of the company’s stock, valued at approximately $13,506,290. The trade was a 0.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 246,248 shares of company stock valued at $45,553,294. Corporate insiders own 38.55% of the company’s stock.

Institutional Investors Weigh In On Atlassian

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Asset Dedication LLC raised its position in shares of 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 period. Trust Co. of Vermont grew its position in shares of Atlassian by 2,175.0% in the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after purchasing an additional 174 shares in the last quarter. Rothschild Investment LLC bought a new stake in shares of Atlassian during the 2nd quarter valued at $36,000. GAMMA Investing LLC boosted its stake in Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after purchasing an additional 96 shares during the period. Finally, True Wealth Design LLC increased its position in shares of Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after buying an additional 231 shares during the period. 93.03% of the stock is currently owned by institutional investors.

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.