Atlassian (NASDAQ:TEAM) Stock Price Target Lowered at Oppenheimer

Atlassian (NASDAQ:TEAM) had its price objective lowered by Oppenheimer from $275.00 to $240.00 in a report issued on Friday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the technology company’s stock.

TEAM has been the topic of a number of other reports. Piper Sandler increased their price objective on shares of Atlassian from $175.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday. Cantor Fitzgerald upped their price target on shares of Atlassian from $220.00 to $252.00 and gave the company an “overweight” rating in a report on Monday, November 2nd. Mizuho increased their price target on shares of Atlassian from $215.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, October 15th. TD Cowen raised their price target on Atlassian from $145.00 to $180.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, BTIG Research cut their price target on Atlassian from $260.00 to $240.00 and set a “buy” rating for the company in a report on Friday. Twenty-four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and an average price target of $210.96.

Atlassian Price Performance

TEAM stock traded down $29.61 during midday trading on Friday, hitting $153.68. 7,474,600 shares of the stock were exchanged, compared to its average volume of 2,508,672. The stock’s 50-day moving average price is $196.05 and its 200-day moving average price is $119.57. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market cap of $38.90 billion, a price-to-earnings ratio of 426.90, a PEG ratio of 19.95 and a beta of 1.16. Atlassian has a fifty-two week low of $56.01 and a fifty-two week high of $229.96.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, November 5th. The technology company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.26. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%. The business’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter last year, the business posted $1.04 earnings per share. Research analysts predict that Atlassian will post 0.69 earnings per share for the current year.

Insider Buying and Selling at Atlassian

In related news, CFO James Chuong sold 9,054 shares of the firm’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 value of $1,561,362.30. Following the transaction, the chief financial officer owned 279,218 shares in the company, valued at approximately $48,151,144.10. This trade represents a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 1,851 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total transaction of $319,204.95. Following the completion of the transaction, the executive directly owned 218,223 shares in the company, valued at approximately $37,632,556.35. This represents a 0.84% 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 22,475 shares of company stock worth $3,822,643 in the last 90 days. 37.63% of the stock is owned by company insiders.

Institutional Investors Weigh In On Atlassian

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fortitude Family Office LLC increased its position in shares of Atlassian by 23.0% during the third quarter. Fortitude Family Office LLC now owns 289 shares of the technology company’s stock worth $52,000 after acquiring an additional 54 shares during the last quarter. Allworth Financial LP raised its holdings 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 during the period. Activest Wealth Management boosted its stake in Atlassian by 372.4% in the third quarter. Activest Wealth Management now owns 137 shares of the technology company’s stock valued at $25,000 after acquiring an additional 108 shares during the period. Parallel Advisors LLC increased its position in Atlassian by 3.0% in the third quarter. Parallel Advisors LLC now owns 3,851 shares of the technology company’s stock worth $690,000 after buying an additional 112 shares during the period. Finally, Greenleaf Trust lifted its position in Atlassian by 3.7% in the 3rd quarter. Greenleaf Trust now owns 3,225 shares of the technology company’s stock valued at $578,000 after purchasing an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

More Atlassian News

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

Atlassian Company Profile

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.