Atlassian Corporation PLC (NASDAQ:TEAM – Get Free Report) was up 5% during mid-day trading on Tuesday . The company traded as high as $165.90 and last traded at $166.1960. 1,956,158 shares were traded during trading, a decline of 69% from the average session volume of 6,285,925 shares. The stock had previously closed at $158.34.
Trending Headlines about Atlassian
Here are the key news stories impacting Atlassian this week:
- Positive Sentiment: Atlassian and Cloudflare are being cited as exceptions to the software sector’s recent “SaaSpocalypse,” with their performance challenging concerns that AI disruption and weaker enterprise technology spending will sharply reduce demand. This supports the view that Atlassian’s collaboration and software-development products remain resilient. SaaSpocalypse Defied: Atlassian and Cloudflare Push Back Against Enterprise Tech Fears
- Positive Sentiment: Recent earnings momentum continues to support TEAM. Atlassian reported quarterly EPS of $1.87 versus the $1.50 consensus estimate, while revenue of $1.77 billion exceeded expectations and increased 27.6% year over year. Analysts have generally maintained bullish views, with 24 Buy ratings and an average price target of $176.27; KeyCorp also raised its target to $185. Atlassian Just Pulled Off the Software Comeback Wall Street Wanted
- Neutral Sentiment: Chief Accounting Officer Gene Liu sold 1,552 shares for approximately $254,450, and Chief Revenue Officer Brian Duffy sold 7,617 shares for about $1.24 million. The filings say the transactions covered tax-withholding obligations from vested equity awards, limiting their value as evidence of discretionary insider selling. Atlassian insider sale filings
- Negative Sentiment: A comparison with Salesforce gives CRM an edge based on stronger AI momentum, a better earnings outlook and a lower valuation. That assessment may weigh on TEAM because its elevated valuation leaves less room for execution disappointments as investors prioritize AI investments. Atlassian vs. Salesforce: Which Cloud Software Stock Has an Edge?
Analysts Set New Price Targets
A number of brokerages have weighed in on TEAM. Wall Street Zen lowered Atlassian from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 30th. BMO Capital Markets lifted their price target on shares of Atlassian from $95.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Barclays upped their price target on shares of Atlassian from $112.00 to $172.00 and gave the company an “overweight” rating in a report on Monday, August 10th. UBS Group increased their price objective on shares of Atlassian from $95.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $200.00 price objective on shares of Atlassian in a report on Friday, August 7th. Twenty-four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $176.27.
Atlassian Stock Performance
The company has a market capitalization of $42.18 billion, a price-to-earnings ratio of -874.71, a P/E/G ratio of 18.33 and a beta of 1.05. The stock has a 50 day simple moving average of $99.46 and a 200 day simple moving average of $87.93. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13.
Atlassian (NASDAQ:TEAM – Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.37. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Atlassian had a positive return on equity of 20.07% and a negative net margin of 0.82%.The business’s quarterly revenue was up 27.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 EPS. As a group, analysts anticipate that Atlassian Corporation PLC will post 0.65 earnings per share for the current fiscal year.
Insider Buying and Selling at Atlassian
In other news, CAO Gene Liu sold 815 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $163.00, for a total transaction of $132,845.00. Following the completion of the transaction, the chief accounting officer owned 57,932 shares in the company, valued at approximately $9,442,916. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 7,617 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $163.00, for a total transaction of $1,241,571.00. Following the completion of the sale, the executive directly owned 220,074 shares in the company, valued at approximately $35,872,062. This trade represents a 3.35% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 18,319 shares of company stock worth $2,341,407 over the last ninety days. 36.66% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. MV Capital Management Inc. bought a new position in Atlassian in the 4th quarter worth about $25,000. Manning & Napier Advisors LLC bought a new position in Atlassian in the 2nd quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB raised its stake in Atlassian by 139.2% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 378 shares of the technology company’s stock valued at $29,000 after acquiring an additional 220 shares in the last quarter. Western Wealth Management LLC acquired a new position in Atlassian during the 1st quarter worth $30,000. Finally, State of Wyoming grew its stake in shares of Atlassian by 65.7% in the first quarter. State of Wyoming now owns 449 shares of the technology company’s stock worth $31,000 after purchasing an additional 178 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.
Atlassian Company Profile
Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.
Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.
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