Wells Fargo & Company Begins Coverage on Atlassian (NASDAQ:TEAM)

Key Points

• Wells Fargo & Company upgraded Atlassian (NASDAQ:TEAM) to a strong-buy rating in a research report, reflecting confidence in the company's performance amidst a turbulent market environment.
• Atlassian's stock has an average target price of $248.74, with analysts showing a mixture of ratings: two strong buys, eighteen buys, and seven holds.
• In its latest quarterly earnings, Atlassian reported $1.38 billion in revenue, surpassing expectations and displaying a year-over-year revenue growth of 22.3%.

Investment analysts at Wells Fargo & Company initiated coverage on shares of Atlassian (NASDAQ:TEAM - Get Free Report) in a note issued to investors on Tuesday, Marketbeat reports. The firm set an "overweight" rating on the technology company's stock.

Several other research firms have also commented on TEAM. Canaccord Genuity Group dropped their price target on Atlassian from $255.00 to $230.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Cantor Fitzgerald dropped their price target on Atlassian from $256.00 to $240.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Stephens dropped their target price on Atlassian from $221.00 to $202.00 and set an "equal weight" rating for the company in a research report on Monday, August 11th. Guggenheim began coverage on Atlassian in a research report on Thursday, September 11th. They set a "buy" rating and a $225.00 target price for the company. Finally, Zacks Research upgraded Atlassian from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 20th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $248.74.

Atlassian Trading Up 0.5%

TEAM traded up $0.82 on Tuesday, hitting $150.39. The company had a trading volume of 1,147,828 shares, compared to its average volume of 2,383,731. The company has a market cap of $39.45 billion, a PE ratio of -151.85 and a beta of 0.92. Atlassian has a 12-month low of $147.40 and a 12-month high of $326.00. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.73. The business's fifty day simple moving average is $173.70 and its 200 day simple moving average is $196.59.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The technology company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.83 by $0.15. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates 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 revenue was up 22.3% on a year-over-year basis. During the same quarter last year, the business posted $0.66 earnings per share. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. Equities research analysts expect that Atlassian will post -0.34 EPS for the current year.

Insider Activity at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $166.36, for a total transaction of $1,275,149.40. Following the completion of the sale, the chief executive officer owned 7,665 shares of the company's stock, valued at approximately $1,275,149.40. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Scott Farquhar sold 7,665 shares of the business's stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $166.36, for a total transaction of $1,275,149.40. Following the completion of the transaction, the director directly owned 7,665 shares of the company's stock, valued at $1,275,149.40. This trade represents a 50.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 536,278 shares of company stock valued at $96,884,301 in the last ninety days. Insiders own 38.55% of the company's stock.

Hedge Funds Weigh In On Atlassian

A number of large investors have recently bought and sold shares of the business. One Wealth Advisors LLC increased its position in shares of Atlassian by 56.7% during the second quarter. One Wealth Advisors LLC now owns 4,436 shares of the technology company's stock worth $901,000 after purchasing an additional 1,606 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Atlassian by 37.7% during the first quarter. Farther Finance Advisors LLC now owns 369 shares of the technology company's stock worth $80,000 after purchasing an additional 101 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Atlassian by 42.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,240 shares of the technology company's stock worth $900,000 after purchasing an additional 1,259 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Atlassian by 350.1% during the first quarter. Principal Financial Group Inc. now owns 51,900 shares of the technology company's stock worth $11,014,000 after purchasing an additional 40,369 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Atlassian by 47,387.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,799 shares of the technology company's stock worth $822,000 after purchasing an additional 3,791 shares in the last quarter. 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.