Atlassian Corporation PLC (NASDAQ:TEAM) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Atlassian Corporation PLC has received a consensus recommendation of "Moderate Buy" from 28 analysts, with an average 1-year price target of $248.74.
• Recently, several analysts have downgraded their price targets for Atlassian, with Canaccord Genuity reducing it from $255.00 to $230.00 and Zacks downgrading from "hold" to "strong sell."
• Insiders have sold a total of 551,608 shares in the last three months, indicating a 2% decrease in their ownership, demonstrating potential concerns regarding the company's stock performance.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the twenty-eight analysts that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $248.7391.

Several analysts recently issued reports on the company. Canaccord Genuity Group reduced their price target on Atlassian from $255.00 to $230.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Zacks Research downgraded Atlassian from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 7th. BMO Capital Markets reduced their price target on Atlassian from $225.00 to $200.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Bank of America assumed coverage on Atlassian in a report on Tuesday, September 23rd. They issued a "neutral" rating and a $200.00 price objective for the company. Finally, Stephens dropped their price objective on Atlassian from $221.00 to $202.00 and set an "equal weight" rating for the company in a report on Monday, August 11th.

Insider Buying and Selling at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction on Friday, July 25th. The stock was sold at an average price of $202.55, for a total value of $1,552,545.75. Following the completion of the transaction, the director directly owned 352,590 shares of the company's stock, valued at $71,417,104.50. The trade was a 2.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction on Monday, July 28th. The shares were sold at an average price of $202.05, for a total value of $1,548,713.25. Following the completion of the transaction, the chief executive officer directly owned 344,925 shares of the company's stock, valued at $69,692,096.25. This represents a 2.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 551,608 shares of company stock valued at $95,837,569 in the last three months. Corporate insiders own 38.55% of the company's stock.

Hedge Funds Weigh In On Atlassian

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Congress Park Capital LLC acquired a new position in shares of Atlassian during the 3rd quarter worth $315,000. Assenagon Asset Management S.A. raised its holdings in shares of Atlassian by 14.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 441,128 shares of the technology company's stock worth $70,448,000 after buying an additional 56,800 shares in the last quarter. Sanders Morris Harris LLC acquired a new position in shares of Atlassian during the 3rd quarter worth $423,000. Oak Thistle LLC raised its holdings in shares of Atlassian by 118.7% during the 3rd quarter. Oak Thistle LLC now owns 13,457 shares of the technology company's stock worth $2,149,000 after buying an additional 7,305 shares in the last quarter. Finally, Praxis Investment Management Inc. raised its holdings in shares of Atlassian by 188.3% during the 3rd quarter. Praxis Investment Management Inc. now owns 4,700 shares of the technology company's stock worth $751,000 after buying an additional 3,070 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Atlassian Stock Performance

TEAM opened at $149.39 on Tuesday. The business has a fifty day simple moving average of $166.31 and a 200 day simple moving average of $191.84. The company has a market capitalization of $39.19 billion, a PE ratio of -150.90 and a beta of 0.92. Atlassian has a 1 year low of $144.32 and a 1 year high of $326.00. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.22.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.15. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. Atlassian had a negative return on equity of 14.77% and a negative net margin of 4.92%.The firm's quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 EPS. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. Research analysts expect that Atlassian will post -0.34 EPS for the current year.

Atlassian Company Profile

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.

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