Truist Financial reiterated their buy rating on shares of Atlassian (NASDAQ:TEAM – Free Report) in a research note published on Friday,Benzinga reports. Truist Financial currently has a $200.00 price target on the technology company’s stock, down from their prior price target of $250.00.
Several other equities research analysts also recently weighed in on the company. Jefferies Financial Group reissued a “buy” rating and issued a $200.00 price target on shares of Atlassian in a report on Friday, August 7th. Oppenheimer lowered their target price on shares of Atlassian from $275.00 to $240.00 and set an “outperform” rating for the company in a research note on Friday. Cantor Fitzgerald lifted their target price on shares of Atlassian from $220.00 to $252.00 and gave the stock an “overweight” rating in a research note on Monday, November 2nd. Royal Bank Of Canada upped their price target on shares of Atlassian from $215.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, October 12th. Finally, Piper Sandler raised their price target on shares of Atlassian from $175.00 to $190.00 and gave the stock an “overweight” rating in a report on Friday. Twenty-four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $210.96.
Get Our Latest Stock Analysis on TEAM
Atlassian Stock Down 16.2%
Shares of NASDAQ:TEAM traded down $29.61 on Friday, reaching $153.68. The company had a trading volume of 7,474,600 shares, compared to its average volume of 2,508,672. Atlassian has a 52-week low of $56.01 and a 52-week high of $229.96. The firm’s 50 day simple moving average is $196.05 and its 200-day simple moving average is $119.57. The firm has a market capitalization of $38.90 billion, a PE ratio of 426.90, a PEG ratio of 19.95 and a beta of 1.16. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.93.
Atlassian (NASDAQ:TEAM – Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The technology company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.26. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the business posted $1.04 EPS. The firm’s quarterly revenue was up 23.7% on a year-over-year basis. As a group, analysts expect that Atlassian will post 0.69 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, CAO Gene Liu sold 337 shares of the business’s stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $210.00, for a total value of $70,770.00. Following the completion of the sale, the chief accounting officer directly owned 55,531 shares in the company, valued at $11,661,510. The trade was a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Brian Duffy sold 1,851 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total transaction of $319,204.95. Following the transaction, the executive owned 218,223 shares of the company’s stock, valued at $37,632,556.35. This represents a 0.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 22,475 shares of company stock valued at $3,822,643 over the last quarter. 37.63% of the stock is currently owned by company insiders.
Institutional Trading of Atlassian
A number of institutional investors and hedge funds have recently modified their holdings of TEAM. Allworth Financial LP increased its position in shares of Atlassian by 0.5% during the third quarter. Allworth Financial LP now owns 16,055 shares of the technology company’s stock worth $2,879,000 after purchasing an additional 74 shares in the last quarter. Ariadne Wealth Management LP purchased a new stake in shares of Atlassian during the third quarter worth $425,000. FDx Advisors Inc. acquired a new stake in shares of Atlassian in the third quarter valued at about $273,000. Maryland State Retirement & Pension System raised its position in shares of Atlassian by 8.4% in the third quarter. Maryland State Retirement & Pension System now owns 9,710 shares of the technology company’s stock valued at $1,741,000 after buying an additional 751 shares during the last quarter. Finally, Lisanti Capital Growth LLC purchased a new position in shares of Atlassian in the third quarter worth about $1,365,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.
Key Headlines Impacting Atlassian
Here are the key news stories impacting Atlassian this week:
- Positive Sentiment: Fiscal Q1 revenue rose 23.7% year over year to $1.77 billion, while adjusted EPS of $1.65 topped the $1.39 consensus. Cloud revenue grew 30.5%, and the company reported stronger margins and free cash flow. Atlassian Q1 results
- Positive Sentiment: AI-related adoption showed momentum: Teamwork Collection customers grew sevenfold year over year, and remaining performance obligations increased 44%. Atlassian also guided to $7.5 billion in FY2027 revenue, above the $7.4 billion consensus. Q1 earnings call highlights
- Positive Sentiment: Piper Sandler raised its price target to $190 and kept an “overweight” rating, signaling continued optimism despite the post-earnings concerns. Piper Sandler target update
- Negative Sentiment: The main concern is deceleration: Atlassian expects next-quarter cloud growth of 27%, below Q1’s 30.5%, and increased its full-year cloud growth outlook only modestly, from 25.5% to 26%. Management cited timing-related Data Center revenue effects, dampening the impact of the quarterly beat. Cloud growth outlook
- Negative Sentiment: Several firms cut price targets, including Truist ($250 to $200), Wells Fargo ($270 to $200), and Oppenheimer ($275 to $240), though they maintained positive ratings. These reductions underscore investor concerns about growth expectations after the results. Truist rating update
About Atlassian
Atlassian Corporation develops collaboration and productivity software for software, IT and business teams. Its products help organizations plan and track work, manage software development and support services, and share information across teams.
Its product portfolio includes Jira for project and issue tracking, Confluence for team documentation and collaboration, Jira Service Management for IT and other service teams, Trello for visual work management, and Bitbucket for code collaboration.
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