Atlassian (NASDAQ:TEAM) Now Covered by Cantor Fitzgerald

Research analysts at Cantor Fitzgerald began coverage on shares of Atlassian (NASDAQ:TEAM) in a research note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage set a “neutral” rating and a $264.00 price target on the technology company’s stock. Cantor Fitzgerald’s price target points to a potential upside of 3.83% from the company’s previous close.

TEAM has been the subject of a number of other research reports. BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $255.00 to $292.00 in a research report on Friday, January 10th. Truist Financial raised shares of Atlassian from a “hold” rating to a “buy” rating and increased their target price for the stock from $250.00 to $300.00 in a report on Tuesday, January 7th. Oppenheimer lifted their price target on shares of Atlassian from $270.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Raymond James raised their target price on shares of Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Piper Sandler upped their price target on shares of Atlassian from $265.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $270.33.

Atlassian Stock Performance

Shares of NASDAQ:TEAM opened at $254.25 on Friday. The firm has a market cap of $66.21 billion, a PE ratio of -167.27 and a beta of 0.83. Atlassian has a 12-month low of $135.29 and a 12-month high of $287.97. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The company’s 50 day moving average price is $256.07 and its two-hundred day moving average price is $201.44.

Atlassian (NASDAQ:TEAM) last issued 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 for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the business earned ($0.07) earnings per share. Atlassian’s revenue was up 21.5% on a year-over-year basis. Equities research analysts predict that Atlassian will post -0.55 earnings per share for the current year.

Insider Transactions at Atlassian

In other news, President Anutthara Bharadwaj sold 4,560 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $225.45, for a total transaction of $1,028,052.00. Following the completion of the sale, the president now owns 224,436 shares of the company’s stock, valued at $50,599,096.20. This trade represents a 1.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Gene Liu sold 165 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $245.84, for a total transaction of $40,563.60. Following the transaction, the chief accounting officer now owns 56,423 shares in the company, valued at $13,871,030.32. The trade was a 0.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 270,668 shares of company stock valued at $65,408,691. Corporate insiders own 38.55% of the company’s stock.

Institutional Investors Weigh In On Atlassian

Several hedge funds and other institutional investors have recently modified their holdings of TEAM. Federated Hermes Inc. acquired a new position in shares of Atlassian during the second quarter valued at about $444,000. Dimensional Fund Advisors LP grew its stake in shares of Atlassian by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 150,393 shares of the technology company’s stock worth $26,597,000 after acquiring an additional 5,878 shares in the last quarter. Amalgamated Bank lifted its position in shares of Atlassian by 3.5% during the second quarter. Amalgamated Bank now owns 10,608 shares of the technology company’s stock valued at $1,876,000 after purchasing an additional 363 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Atlassian by 4.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,389 shares of the technology company’s stock worth $1,830,000 after purchasing an additional 440 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co grew its position in Atlassian by 1.9% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 14,439 shares of the technology company’s stock worth $2,554,000 after purchasing an additional 275 shares in the last quarter. 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.