Brokerages Set Atlassian Corporation PLC (NASDAQ:TEAM) Price Target at $282.19

Shares of Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twenty-four research firms that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $282.19.

Several equities analysts have commented on the stock. KeyCorp lowered their target price on shares of Atlassian from $365.00 to $275.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Stephens lowered their price target on Atlassian from $255.00 to $221.00 and set an "equal weight" rating on the stock in a research report on Friday, May 2nd. Macquarie lowered their price target on Atlassian from $270.00 to $250.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Truist Financial decreased their target price on Atlassian from $350.00 to $300.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Finally, Barclays decreased their target price on Atlassian from $350.00 to $260.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th.

Atlassian Price Performance

Shares of TEAM traded up $0.31 during trading hours on Friday, hitting $213.84. 232,277 shares of the company were exchanged, compared to its average volume of 2,151,848. The company has a market capitalization of $56.14 billion, a PE ratio of -128.90 and a beta of 0.94. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a fifty day simple moving average of $209.58 and a 200-day simple moving average of $235.45. Atlassian has a one year low of $135.29 and a one year high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. Atlassian had a negative return on equity of 23.41% and a negative net margin of 8.66%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the company earned $0.89 earnings per share. The company's revenue for the quarter was up 14.1% on a year-over-year basis. As a group, sell-side analysts predict that Atlassian will post -0.34 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $213.97, for a total value of $1,640,080.05. Following the completion of the sale, the chief executive officer directly owned 467,565 shares of the company's stock, valued at approximately $100,044,883.05. This represents a 1.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Scott Farquhar sold 7,665 shares of the stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $213.97, for a total value of $1,640,080.05. Following the completion of the sale, the director directly owned 467,565 shares of the company's stock, valued at $100,044,883.05. The trade was a 1.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 402,867 shares of company stock worth $84,057,644. Company insiders own 38.55% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TEAM. Clean Yield Group grew its stake in shares of Atlassian by 372.0% during the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock worth $25,000 after acquiring an additional 93 shares during the period. Murphy & Mullick Capital Management Corp purchased a new stake in Atlassian during the 4th quarter worth about $27,000. Colonial Trust Co SC lifted its holdings in Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after purchasing an additional 69 shares in the last quarter. Smithfield Trust Co lifted its holdings in Atlassian by 90.7% during the 1st quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock worth $34,000 after purchasing an additional 78 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in Atlassian during the 4th quarter worth about $38,000. Institutional investors own 94.45% of the company's stock.

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.