Atlassian (NASDAQ:TEAM) Earns “Outperform” Rating from William Blair

Atlassian (NASDAQ:TEAM)‘s stock had its “outperform” rating reaffirmed by stock analysts at William Blair in a report released on Friday,RTT News reports.

Other research analysts have also issued research reports about the stock. Macquarie assumed coverage on shares of Atlassian in a report on Thursday, December 12th. They set a “neutral” rating and a $290.00 price target for the company. Oppenheimer boosted their target price on shares of Atlassian from $270.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, January 6th. BMO Capital Markets upgraded Atlassian from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $255.00 to $292.00 in a report on Friday, January 10th. Piper Sandler boosted their price objective on Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday. Finally, KeyCorp lifted their target price on Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday. Nine research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and a consensus price target of $301.05.

Atlassian Price Performance

TEAM traded up $42.39 on Friday, reaching $309.34. The stock had a trading volume of 4,829,578 shares, compared to its average volume of 2,004,641. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $80.56 billion, a price-to-earnings ratio of -203.70 and a beta of 0.83. Atlassian has a fifty-two week low of $135.29 and a fifty-two week high of $324.37. The firm has a 50-day moving average of $259.32 and a 200-day moving average of $206.76.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. As a group, sell-side analysts anticipate that Atlassian will post -0.55 EPS for the current year.

Insiders Place Their Bets

In other news, President Anutthara Bharadwaj sold 1,659 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $245.81, for a total transaction of $407,798.79. Following the completion of the sale, the president now owns 213,511 shares in the company, valued at $52,483,138.91. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Gene Liu sold 445 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $230.00, for a total value of $102,350.00. Following the transaction, the chief accounting officer now owns 58,723 shares of the company’s stock, valued at $13,506,290. The trade was a 0.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 257,156 shares of company stock valued at $65,313,573. Insiders own 38.55% of the company’s stock.

Institutional Investors Weigh In On Atlassian

Several large investors have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans purchased a new position in Atlassian in the second quarter worth $677,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Atlassian in the 2nd quarter valued at $407,000. Quarry LP boosted its position in Atlassian by 143.8% during the second quarter. Quarry LP now owns 373 shares of the technology company’s stock valued at $66,000 after buying an additional 220 shares during the period. Truist Financial Corp grew its position in Atlassian by 2.5% during the 2nd quarter. Truist Financial Corp now owns 84,358 shares of the technology company’s stock worth $14,921,000 after acquiring an additional 2,050 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in Atlassian in the second quarter valued at approximately $1,022,000. 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.