Robert W. Baird Issues Positive Forecast for Atlassian (NASDAQ:TEAM) Stock Price

Atlassian (NASDAQ:TEAM) had its target price increased by Robert W. Baird from $175.00 to $200.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Several other research analysts also recently weighed in on the stock. Mizuho boosted their target price on shares of Atlassian from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. UBS Group boosted their target price on shares of Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Baird R W downgraded shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Scotiabank dropped their price objective on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Finally, Piper Sandler upped their price objective on shares of Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and a consensus price target of $243.16.

Atlassian Price Performance

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

Atlassian (NASDAQ:TEAM) last announced 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. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.38%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the company posted ($0.21) EPS. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, sell-side analysts forecast that Atlassian will post -0.58 EPS for the current fiscal year.

Insider Transactions at Atlassian

In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 309,972 shares in the company, valued at $44,493,380.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Atlassian news, CTO Rajeev Bashyam Rajan sold 199 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $146.08, for a total value of $29,069.92. Following the completion of the transaction, the chief technology officer now owns 128,957 shares in the company, valued at $18,838,038.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, 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. In the last quarter, insiders sold 230,185 shares of company stock worth $39,155,661. 38.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Atlassian

Several institutional investors and hedge funds have recently made changes to their positions in TEAM. Hollencrest Capital Management increased its stake in shares of Atlassian by 383.9% in the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after buying an additional 119 shares during the last quarter. Asset Dedication LLC increased its stake in shares of 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 buying an additional 108 shares during the last quarter. Trust Co. of Vermont increased its position in shares of Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after purchasing an additional 174 shares during the last quarter. Rothschild Investment LLC bought a new stake in shares of Atlassian in the 2nd quarter worth about $36,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Atlassian in the 1st quarter valued at about $40,000. 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.