Atlassian (NASDAQ:TEAM) Price Target Raised to $300.00 at Jefferies Financial Group

Atlassian (NASDAQ:TEAM) had its target price hoisted by analysts at Jefferies Financial Group from $280.00 to $300.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s target price points to a potential upside of 18.94% from the company’s current price.

Several other equities analysts have also weighed in on TEAM. The Goldman Sachs Group raised Atlassian from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $200.00 to $230.00 in a research note on Friday, August 2nd. BMO Capital Markets boosted their price objective on shares of Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st. Truist Financial raised their target price on shares of Atlassian from $160.00 to $200.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Barclays decreased their price target on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Finally, Morgan Stanley raised their price objective on Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.21.

Atlassian Trading Down 0.2 %

Shares of TEAM stock traded down $0.55 during trading hours on Thursday, hitting $252.23. 959,233 shares of the company were exchanged, compared to its average volume of 1,854,546. Atlassian has a 1 year low of $135.29 and a 1 year high of $258.69. The firm has a fifty day moving average of $184.61 and a 200 day moving average of $173.61. The firm has a market cap of $65.69 billion, a PE ratio of -165.94 and a beta of 0.71. 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 quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the company earned ($0.07) EPS. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. Analysts expect that Atlassian will post -0.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $244.84, for a total transaction of $1,945,988.32. Following the sale, the director now directly owns 270,232 shares of the company’s stock, valued at approximately $66,163,602.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 transaction of $1,945,988.32. Following the completion of the sale, the director now owns 270,232 shares of the company’s stock, valued at $66,163,602.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Gene Liu sold 785 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $240.00, for a total transaction of $188,400.00. Following the completion of the transaction, the chief accounting officer now directly owns 57,938 shares in the company, valued at $13,905,120. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,395 shares of company stock valued at $46,787,439 in the last quarter. Insiders own 38.55% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Concurrent Investment Advisors LLC acquired a new position in shares of Atlassian during the first quarter valued at $216,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Atlassian by 25.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 96,296 shares of the technology company’s stock valued at $18,788,000 after purchasing an additional 19,299 shares during the period. M&G Plc bought a new stake in shares of Atlassian during the first quarter valued at approximately $6,676,000. Intech Investment Management LLC boosted its position in shares of Atlassian by 2.7% during the first quarter. Intech Investment Management LLC now owns 8,626 shares of the technology company’s stock worth $1,683,000 after buying an additional 230 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Atlassian by 1.4% during the first quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock worth $3,039,287,000 after buying an additional 221,650 shares during the period. 93.03% of the stock is currently owned by institutional investors.

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.