Atlassian (NASDAQ:TEAM) Price Target Cut to $215.00 by Analysts at UBS Group

Atlassian (NASDAQ:TEAM) had its price target reduced by UBS Group from $230.00 to $215.00 in a research note released on Friday,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Other equities research analysts also recently issued reports about the stock. Mizuho lifted their target price on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Stephens reduced their price objective on shares of Atlassian from $255.00 to $221.00 and set an “equal weight” rating on the stock in a research note on Friday. Jefferies Financial Group cut their target price on Atlassian from $330.00 to $262.00 and set a “buy” rating on the stock in a report on Monday, April 7th. The Goldman Sachs Group increased their price target on Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Cantor Fitzgerald raised Atlassian from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $304.00 to $272.00 in a research note on Wednesday, April 2nd. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $289.57.

Atlassian Stock Performance

NASDAQ TEAM opened at $208.48 on Friday. The firm’s fifty day moving average price is $222.61 and its two-hundred day moving average price is $245.06. The stock has a market cap of $54.62 billion, a PE ratio of -155.58 and a beta of 1.06. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. Atlassian has a fifty-two week low of $135.29 and a fifty-two week high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the previous year, the company posted $0.89 EPS. Atlassian’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, equities analysts expect that Atlassian will post -0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $311.20, for a total value of $2,473,417.60. Following the transaction, the chief executive officer now directly owns 309,972 shares of the company’s stock, valued at approximately $96,463,286.40. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $312.58, for a total transaction of $475,121.60. Following the sale, the president now directly owns 201,657 shares of the company’s stock, valued at approximately $63,033,945.06. The trade was a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 260,734 shares of company stock worth $64,629,600. Corporate insiders own 38.55% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Murphy & Mullick Capital Management Corp bought a new position in Atlassian during the 4th quarter valued at $27,000. Clean Yield Group lifted its position in shares of Atlassian by 372.0% during the first quarter. Clean Yield Group now owns 118 shares of the technology company’s stock valued at $25,000 after purchasing an additional 93 shares in the last quarter. Colonial Trust Co SC boosted its holdings in Atlassian by 100.0% during the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock worth $34,000 after purchasing an additional 69 shares during the last quarter. Summit Securities Group LLC bought a new stake in Atlassian in the 4th quarter worth about $38,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in Atlassian in the 4th quarter valued at about $39,000. Institutional investors own 94.45% of the company’s stock.

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.