Atlassian Corporation PLC (NASDAQ:TEAM) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Atlassian Corporation PLC (NASDAQ:TEAM) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-four analysts that are covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $282.19.

A number of research firms recently weighed in on TEAM. Canaccord Genuity Group dropped their price target on Atlassian from $300.00 to $255.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. KeyCorp dropped their price objective on shares of Atlassian from $365.00 to $275.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Wall Street Zen downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a report on Saturday. Baird R W upgraded shares of Atlassian from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 14th. Finally, Piper Sandler reissued an “overweight” rating and issued a $300.00 price target (down from $365.00) on shares of Atlassian in a report on Friday, May 2nd.

Atlassian Stock Performance

Shares of TEAM opened at $198.20 on Wednesday. The company has a market cap of $52.03 billion, a PE ratio of -119.40 and a beta of 0.96. The firm has a 50-day moving average of $210.81 and a 200-day moving average of $241.89. Atlassian has a one year low of $135.29 and a one year high of $326.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. Atlassian’s revenue was up 14.1% on a year-over-year basis. During the same period last year, the business posted $0.89 EPS. As a group, equities analysts forecast that Atlassian will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction on Monday, June 16th. The stock was sold at an average price of $200.68, for a total value of $1,538,212.20. Following the transaction, the director now owns 68,985 shares in the company, valued at approximately $13,843,909.80. This trade represents a 10.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $226.93, for a total value of $1,803,639.64. Following the sale, the chief executive officer now owns 55,636 shares of the company’s stock, valued at approximately $12,625,477.48. This represents a 12.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 359,141 shares of company stock worth $76,185,982. Company insiders own 38.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Murphy & Mullick Capital Management Corp bought a new position in shares of Atlassian in the fourth quarter worth about $27,000. Clean Yield Group increased its position in Atlassian by 372.0% during the 1st quarter. Clean Yield Group now owns 118 shares of the technology company’s stock worth $25,000 after purchasing an additional 93 shares in the last quarter. Colonial Trust Co SC lifted its stake in Atlassian by 100.0% in the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock valued at $34,000 after purchasing an additional 69 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Atlassian in the fourth quarter valued at approximately $38,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Atlassian during the fourth quarter worth $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.