Atlassian (NASDAQ:TEAM) Stock Rating Upgraded by Capital One Financial

Atlassian (NASDAQ:TEAM) was upgraded by equities research analysts at Capital One Financial from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage currently has a $211.00 price objective on the technology company’s stock. Capital One Financial‘s price objective indicates a potential upside of 16.29% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. Citigroup lowered their target price on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a report on Friday, April 12th. Robert W. Baird dropped their target price on Atlassian from $270.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Barclays upgraded Atlassian from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $235.00 to $275.00 in a report on Thursday, April 11th. Truist Financial dropped their price objective on Atlassian from $220.00 to $200.00 and set a “hold” rating for the company in a report on Friday, April 26th. Finally, Mizuho reduced their target price on Atlassian from $240.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and a consensus target price of $225.35.

Atlassian Stock Up 2.2 %

Shares of NASDAQ:TEAM opened at $181.45 on Thursday. The company has a 50-day moving average price of $171.16 and a 200 day moving average price of $198.14. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82. Atlassian has a 12 month low of $152.34 and a 12 month high of $258.69. The company has a market cap of $47.23 billion, a price-to-earnings ratio of -288.02 and a beta of 0.74.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the business earned ($0.40) EPS. The company’s quarterly revenue was up 29.9% on a year-over-year basis. As a group, equities research analysts predict that Atlassian will post -0.21 earnings per share for the current year.

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 8,241 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $197.46, for a total transaction of $1,627,267.86. Following the completion of the sale, the chief executive officer now directly owns 424,137 shares in the company, valued at approximately $83,750,092.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $197.46, for a total transaction of $1,627,267.86. Following the completion of the transaction, the chief executive officer now owns 424,137 shares in the company, valued at approximately $83,750,092.02. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $162.20, for a total transaction of $1,289,165.60. Following the completion of the sale, the chief executive officer now owns 103,324 shares of the company’s stock, valued at $16,759,152.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 278,682 shares of company stock worth $49,101,951. 40.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TEAM. Hollencrest Capital Management raised its position in shares of Atlassian by 383.9% in the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after purchasing an additional 119 shares during the last quarter. Trust Co. of Vermont lifted its stake in shares of Atlassian by 2,175.0% during the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after buying an additional 174 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Atlassian during the first quarter valued at $40,000. Crewe Advisors LLC purchased a new position in Atlassian in the 1st quarter worth $43,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in Atlassian by 271.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after acquiring an additional 271 shares during the period. 93.03% of the stock is currently owned by hedge funds and other 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.