BMO Capital Markets Issues Pessimistic Forecast for Atlassian (NASDAQ:TEAM) Stock Price

Atlassian (NASDAQ:TEAM - Get Free Report) had its price objective decreased by equities research analysts at BMO Capital Markets from $295.00 to $245.00 in a report released on Friday, MarketBeat Ratings reports. The firm currently has an "outperform" rating on the technology company's stock. BMO Capital Markets' price target would suggest a potential upside of 17.85% from the stock's current price.

Several other research analysts have also weighed in on the company. Baird R W raised Atlassian from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Mizuho increased their price target on Atlassian from $285.00 to $355.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. JMP Securities reaffirmed a "market perform" rating on shares of Atlassian in a research report on Friday, January 31st. Oppenheimer boosted their target price on shares of Atlassian from $300.00 to $380.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. Finally, KeyCorp decreased their price target on shares of Atlassian from $365.00 to $275.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Five equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Atlassian has a consensus rating of "Moderate Buy" and a consensus price target of $285.29.

Atlassian Trading Up 0.1 %

Shares of TEAM traded up $0.11 during mid-day trading on Friday, reaching $207.89. 1,835,972 shares of the company were exchanged, compared to its average volume of 2,072,996. The business has a 50 day simple moving average of $220.99 and a two-hundred day simple moving average of $245.96. Atlassian has a 52 week low of $135.29 and a 52 week high of $326.00. The stock has a market capitalization of $54.47 billion, a PE ratio of -155.14 and a beta of 1.06. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the previous year, the company earned $0.89 EPS. The company's revenue for the quarter was up 14.1% on a year-over-year basis. On average, analysts predict that Atlassian will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlassian

In other news, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $315.69, for a total value of $2,509,104.12. Following the sale, the director now owns 278,180 shares of the company's stock, valued at $87,818,644.20. The trade was a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 1,723 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $305.84, for a total transaction of $526,962.32. Following the sale, the president now owns 199,934 shares in the company, valued at $61,147,814.56. The trade was a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 260,734 shares of company stock valued at $63,835,594 over the last three months. 38.55% of the stock is currently owned by insiders.

Institutional Trading of Atlassian

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in shares of Atlassian by 72.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock valued at $1,042,737,000 after buying an additional 1,806,042 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Atlassian by 21.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,440,813 shares of the technology company's stock worth $730,175,000 after acquiring an additional 616,071 shares during the period. Invesco Ltd. lifted its stake in Atlassian by 265.9% in the 4th quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock worth $595,171,000 after purchasing an additional 1,777,179 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Atlassian by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company's stock valued at $528,851,000 after purchasing an additional 27,899 shares during the period. Finally, Voya Investment Management LLC grew its position in shares of Atlassian by 17,941.0% during the 4th quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock valued at $528,693,000 after purchasing an additional 2,160,810 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

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.