Atlassian (NASDAQ:TEAM) Given New $265.00 Price Target at Piper Sandler

Atlassian (NASDAQ:TEAM) had its price objective increased by Piper Sandler from $225.00 to $265.00 in a report published on Friday, Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

Several other brokerages have also recently issued reports on TEAM. Capital One Financial raised Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 target price on the stock in a report on Thursday, July 11th. The Goldman Sachs Group raised Atlassian from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $200.00 to $230.00 in a research note on Friday, August 2nd. Morgan Stanley increased their target price on Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Mizuho boosted their price target on shares of Atlassian from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, JMP Securities raised shares of Atlassian to a “hold” rating in a research note on Friday, August 2nd. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $243.16.

Atlassian Price Performance

NASDAQ TEAM traded up $35.81 during trading hours on Friday, reaching $224.35. The company’s stock had a trading volume of 9,591,126 shares, compared to its average volume of 1,914,822. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. Atlassian has a 1 year low of $135.29 and a 1 year high of $258.69. The firm’s 50-day moving average price is $173.30 and its 200-day moving average price is $171.46. The company has a market capitalization of $58.34 billion, a price-to-earnings ratio of -147.60 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.07. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.38%. Atlassian’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period last year, the company posted ($0.21) earnings per share. On average, equities research analysts predict that Atlassian will post -0.58 EPS for the current fiscal year.

Insider Buying and Selling at Atlassian

In other news, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $143.54, for a total transaction of $1,140,855.92. Following the transaction, the chief executive officer now owns 309,972 shares in the company, valued at approximately $44,493,380.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $163.11, for a total transaction of $123,963.60. Following the transaction, the president now directly owns 143,966 shares of the company’s stock, valued at $23,482,294.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $143.54, for a total value of $1,140,855.92. Following the sale, the chief executive officer now owns 309,972 shares of the company’s stock, valued at approximately $44,493,380.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 230,185 shares of company stock valued at $39,155,661 in the last ninety days. Corporate insiders own 38.55% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Asset Dedication LLC raised its holdings in Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after purchasing an additional 108 shares in the last quarter. Hollencrest Capital Management lifted its position in Atlassian by 383.9% during the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after acquiring an additional 119 shares during the last quarter. Trust Co. of Vermont boosted its stake in 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 acquiring an additional 174 shares in the last quarter. Rothschild Investment LLC purchased a new position in Atlassian in the second quarter worth $36,000. Finally, GAMMA Investing LLC increased its position in shares of Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after purchasing an additional 96 shares in the last quarter. 93.03% of the stock is 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.