Analysts Set Atlassian Co. (NASDAQ:TEAM) PT at $285.29

Shares of Atlassian Co. (NASDAQ:TEAM - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twenty-four brokerages that are presently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $285.29.

Several equities analysts recently commented on the stock. Robert W. Baird raised shares of Atlassian from a "neutral" rating to an "outperform" rating and reduced their price objective for the company from $320.00 to $255.00 in a research note on Monday, April 14th. Macquarie cut their price target on shares of Atlassian from $270.00 to $250.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Canaccord Genuity Group decreased their price target on shares of Atlassian from $300.00 to $255.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Stephens dropped their price objective on Atlassian from $255.00 to $221.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. Finally, BMO Capital Markets decreased their target price on Atlassian from $295.00 to $245.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd.

Insiders Place Their Bets

In other news, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $234.38, for a total value of $1,862,852.24. Following the completion of the sale, the director now owns 39,740 shares of the company's stock, valued at approximately $9,314,261.20. The trade was a 16.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Gene Liu sold 541 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total value of $122,000.91. Following the transaction, the chief accounting officer now owns 51,481 shares in the company, valued at approximately $11,609,480.31. The trade was a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 336,429 shares of company stock valued at $71,774,377 over the last three months. Insiders own 38.55% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Clean Yield Group boosted its position in Atlassian by 372.0% during the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock valued at $25,000 after buying an additional 93 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in shares of Atlassian during the fourth quarter valued at about $27,000. Colonial Trust Co SC boosted its holdings in shares of 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 period. Smithfield Trust Co grew its stake in shares of Atlassian by 90.7% in the first quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock worth $34,000 after purchasing an additional 78 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of Atlassian in the fourth quarter worth about $38,000. Institutional investors own 94.45% of the company's stock.

Atlassian Stock Performance

NASDAQ:TEAM traded down $2.03 on Wednesday, reaching $199.47. 946,992 shares of the company's stock were exchanged, compared to its average volume of 2,109,764. The firm has a market cap of $52.36 billion, a price-to-earnings ratio of -148.86 and a beta of 0.96. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a fifty day simple moving average of $210.19 and a 200-day simple moving average of $243.79. Atlassian has a 52 week low of $135.29 and a 52 week high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the business earned $0.89 EPS. Atlassian's revenue was up 14.1% compared to the same quarter last year. As a group, sell-side analysts predict that Atlassian will post -0.34 earnings per share for the current year.

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.