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

Key Points

• Oppenheimer lowered its Atlassian price target from $275 to $240 but maintained an “outperform” rating; the new target implied 53.4% upside from the prior close.
• Atlassian shares fell 14.7% to $156.43 on Friday, despite the company beating quarterly revenue and earnings estimates.
• Quarterly revenue rose 23.7% year over year to $1.77 billion, and EPS of $1.65 topped expectations; however, investor concerns about the growth outlook, cloud-migration timing and AI monetization weighed on the stock.

Atlassian (NASDAQ:TEAM - Get Free Report) had its price objective dropped by Oppenheimer from $275.00 to $240.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an "outperform" rating on the technology company's stock. Oppenheimer's price objective indicates a potential upside of 53.43% from the stock's previous close.

A number of other research analysts also recently issued reports on the company. Wells Fargo & Company cut their price target on Atlassian from $270.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday. Jefferies Financial Group restated a "buy" rating and set a $200.00 price objective on shares of Atlassian in a research note on Friday, August 7th. Citigroup raised their price objective on Atlassian from $225.00 to $245.00 and gave the company a "buy" rating in a research report on Tuesday, October 20th. Robert W. Baird raised their price objective on Atlassian from $200.00 to $245.00 and gave the company an "outperform" rating in a research report on Monday, September 28th. Finally, FBN Securities reiterated an "outperform" rating and issued a $170.00 target price on shares of Atlassian in a research note on Monday, August 10th. Twenty-four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $213.36.

Atlassian Trading Down 14.7%

TEAM traded down $26.86 on Friday, reaching $156.43. 3,942,818 shares of the company traded hands, compared to its average volume of 5,485,729. The company has a market cap of $39.60 billion, a P/E ratio of -824.50, a price-to-earnings-growth ratio of 20.25 and a beta of 1.16. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.93. Atlassian has a one year low of $56.01 and a one year high of $229.96. The firm has a fifty day simple moving average of $196.69 and a two-hundred day simple moving average of $119.39.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The technology company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.26. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.71 billion. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. The company's revenue was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.04 earnings per share. As a group, equities research analysts expect that Atlassian will post 0.69 earnings per share for the current year.

Insider Buying and Selling at Atlassian

In other news, CRO Brian Duffy sold 1,851 shares of the business's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total transaction of $319,204.95. Following the sale, the executive owned 218,223 shares in the company, valued at approximately $37,632,556.35. The trade was a 0.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO James Chuong sold 9,054 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total transaction of $1,561,362.30. Following the completion of the transaction, the chief financial officer directly owned 279,218 shares of the company's stock, valued at $48,151,144.10. The trade was a 3.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 22,475 shares of company stock worth $3,822,643. 37.63% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TEAM. Carmignac Gestion boosted its stake in Atlassian by 115.8% during the 1st quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company's stock worth $177,707,000 after purchasing an additional 1,397,402 shares during the last quarter. First Trust Advisors LP raised its position in shares of Atlassian by 48.4% in the first quarter. First Trust Advisors LP now owns 2,349,842 shares of the technology company's stock valued at $160,377,000 after buying an additional 766,922 shares during the last quarter. KBC Group NV raised its position in shares of Atlassian by 1,691.2% in the first quarter. KBC Group NV now owns 1,440,019 shares of the technology company's stock valued at $98,281,000 after buying an additional 1,359,624 shares during the last quarter. Swiss National Bank raised its position in shares of Atlassian by 8.2% in the first quarter. Swiss National Bank now owns 493,267 shares of the technology company's stock valued at $33,665,000 after buying an additional 37,500 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Atlassian by 111.7% in the third quarter. Assenagon Asset Management S.A. now owns 469,100 shares of the technology company's stock worth $84,105,000 after buying an additional 247,540 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Key Atlassian News

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Fiscal Q1 revenue was $1.77 billion, up 23.7% year over year and above the $1.71 billion consensus; adjusted EPS of $1.65 also topped the $1.39 estimate. Cloud revenue grew 31%, while remaining performance obligations rose 44% and Teamwork Collection customers increased sevenfold year over year. Read More.
• Positive Sentiment: Atlassian forecast FY2027 revenue of $7.5 billion, above analysts’ $7.4 billion estimate. Several analysts retained bullish ratings: Piper Sandler raised its target to $190, while Wells Fargo and BTIG lowered targets but kept “overweight” and “buy” ratings, respectively. Read More.
• Neutral Sentiment: Q2 FY2027 revenue guidance of $1.8 billion matched consensus, offering no clear near-term upside surprise. Read More.
• Negative Sentiment: The post-earnings decline suggests investors were more concerned about the growth outlook than the quarter’s beat. Reports highlighted questions around cloud-migration timing and AI monetization, while Wells Fargo and BTIG cut their price targets, tempering the positive analyst signals. Read More.

Atlassian Company Profile

Atlassian Corporation develops collaboration, project-management and workflow software for technology, business and service teams. Its products are designed to help organizations plan projects, manage software development, coordinate work and share knowledge across departments.

Its product portfolio includes Jira for project and issue tracking, Confluence for team collaboration and knowledge management, Jira Service Management for IT and enterprise service workflows, Trello for organizing tasks and projects, Loom for video messaging and screen recording, and Bitbucket for source-code management and collaboration.

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