Atlassian (NASDAQ:TEAM – Get Free Report) had its price target raised by analysts at KeyCorp from $185.00 to $235.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. KeyCorp’s price target would indicate a potential upside of 13.08% from the company’s previous close.
Several other brokerages have also recently commented on TEAM. Wall Street Zen raised Atlassian from a “hold” rating to a “buy” rating in a research report on Sunday, September 13th. Mizuho boosted their price target on Atlassian from $215.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday. FBN Securities reissued an “outperform” rating and set a $170.00 price target on shares of Atlassian in a report on Monday, August 10th. BTIG Research upped their price objective on Atlassian from $180.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Finally, Citigroup boosted their price target on shares of Atlassian from $170.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 1st. Twenty-five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $198.59.
Read Our Latest Stock Analysis on TEAM
Atlassian Price Performance
TEAM opened at $207.82 on Monday. The company has a fifty day simple moving average of $184.80 and a 200 day simple moving average of $120.50. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.93. The stock has a market cap of $52.74 billion, a P/E ratio of -1,093.79, a P/E/G ratio of 16.33 and a beta of 1.22. Atlassian has a 12 month low of $56.01 and a 12 month high of $223.70.
Atlassian (NASDAQ:TEAM – Get Free Report) last posted its earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.37. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%. The company’s revenue was up 27.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 earnings per share. On average, research analysts expect that Atlassian will post 0.94 EPS for the current year.
Insider Transactions at Atlassian
In related news, CFO James Chuong sold 9,054 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total transaction of $1,561,362.30. Following the completion of the transaction, the chief financial officer owned 279,218 shares of the company’s stock, valued at approximately $48,151,144.10. The trade was a 3.14% decrease in their ownership of the stock. The sale 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, CAO Gene Liu sold 1,125 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $175.00, for a total value of $196,875.00. Following the completion of the sale, the chief accounting officer directly owned 56,807 shares in the company, valued at approximately $9,941,225. The trade was a 1.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 22,475 shares of company stock valued at $3,822,643 over the last three months. Company insiders own 37.63% of the company’s stock.
Institutional Investors Weigh In On Atlassian
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Pictet Asset Management Holding SA increased its stake in Atlassian by 27.4% during the 1st quarter. Pictet Asset Management Holding SA now owns 5,031,413 shares of the technology company’s stock valued at $343,344,000 after purchasing an additional 1,080,561 shares in the last quarter. Carmignac Gestion grew its holdings in Atlassian by 115.8% during the 1st quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company’s stock valued at $177,707,000 after buying an additional 1,397,402 shares in the last quarter. First Trust Advisors LP increased its position in Atlassian by 48.4% during the first quarter. First Trust Advisors LP now owns 2,349,842 shares of the technology company’s stock valued at $160,377,000 after acquiring an additional 766,922 shares during the last quarter. KBC Group NV increased its stake in Atlassian by 1,691.2% in the 1st quarter. KBC Group NV now owns 1,440,019 shares of the technology company’s stock worth $98,281,000 after buying an additional 1,359,624 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in Atlassian by 111.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 469,100 shares of the technology company’s stock valued at $84,105,000 after purchasing an additional 247,540 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.
Atlassian Company Profile
Atlassian Corporation develops collaboration, project-management and workflow software for technology, business and service teams. Its products are designed to help organizations plan projects, manage software development, coordinate work and share knowledge across departments.
Its product portfolio includes Jira for project and issue tracking, Confluence for team collaboration and knowledge management, Jira Service Management for IT and enterprise service workflows, Trello for organizing tasks and projects, Loom for video messaging and screen recording, and Bitbucket for source-code management and collaboration.
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