Atlassian (NASDAQ:TEAM) Coverage Initiated at Guggenheim

Key Points

• Guggenheim initiated coverage of Atlassian (NASDAQ:TEAM) with a buy rating and a price target of $225.00, suggesting a potential upside of 29.07% from the current stock price.
• Atlassian reported strong earnings for the last quarter, with EPS of $0.98, surpassing estimates, and year-over-year revenue growth of 22.3% to $1.38 billion.
• Insider trading activity included significant sales by both the Director and CEO, resulting in a 6.25% decrease in their ownership stakes, with a total of 520,948 shares sold in the last 90 days.

Investment analysts at Guggenheim initiated coverage on shares of Atlassian (NASDAQ:TEAM - Get Free Report) in a research report issued on Thursday,Briefing.com Automated Import reports. The firm set a "buy" rating and a $225.00 price target on the technology company's stock. Guggenheim's target price would indicate a potential upside of 29.07% from the stock's current price.

Other equities research analysts have also issued reports about the stock. Mizuho decreased their target price on shares of Atlassian from $265.00 to $235.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Cantor Fitzgerald dropped their target price on shares of Atlassian from $256.00 to $240.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Capital One Financial downgraded shares of Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 target price for the company. in a report on Wednesday, July 16th. Zacks Research raised shares of Atlassian from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 20th. Finally, Raymond James Financial dropped their price objective on shares of Atlassian from $300.00 to $250.00 and set an "outperform" rating for the company in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, Atlassian presently has a consensus rating of "Moderate Buy" and a consensus target price of $255.45.

Atlassian Stock Down 4.4%

Shares of NASDAQ:TEAM opened at $174.32 on Thursday. The stock has a 50 day moving average price of $183.87 and a 200-day moving average price of $205.66. Atlassian has a 52-week low of $154.07 and a 52-week high of $326.00. The firm has a market capitalization of $45.73 billion, a P/E ratio of -176.08 and a beta of 0.95. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.22 and a current ratio of 1.22.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its 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. Atlassian had a negative net margin of 4.92% and a negative return on equity of 14.77%. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the business earned $0.66 earnings per share. The business's revenue was up 22.3% on a year-over-year basis. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. As a group, equities research analysts anticipate that Atlassian will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Scott Farquhar sold 7,665 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $171.59, for a total value of $1,315,237.35. Following the sale, the director directly owned 114,975 shares of the company's stock, valued at $19,728,560.25. This represents a 6.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $171.59, for a total transaction of $1,315,237.35. Following the completion of the sale, the chief executive officer directly owned 114,975 shares in the company, valued at $19,728,560.25. This trade represents a 6.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 520,948 shares of company stock valued at $97,918,156 in the last ninety days. 38.55% of the stock is owned by company insiders.

Institutional Trading of Atlassian

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Atlassian by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 17,430,078 shares of the technology company's stock valued at $3,539,875,000 after acquiring an additional 436,541 shares during the period. Baillie Gifford & Co. boosted its stake in Atlassian by 7.1% in the first quarter. Baillie Gifford & Co. now owns 8,694,755 shares of the technology company's stock valued at $1,845,114,000 after acquiring an additional 573,696 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of Atlassian by 66.3% during the second quarter. Artisan Partners Limited Partnership now owns 3,878,133 shares of the technology company's stock valued at $787,610,000 after buying an additional 1,545,546 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Atlassian by 21.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,440,813 shares of the technology company's stock worth $730,175,000 after purchasing an additional 616,071 shares during the last quarter. Finally, Voya Investment Management LLC lifted its position in Atlassian by 24.1% during the first quarter. Voya Investment Management LLC now owns 2,695,889 shares of the technology company's stock valued at $571,894,000 after purchasing an additional 523,035 shares during the period. 94.45% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.