Atlassian's (TEAM) Buy Rating Reaffirmed at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has reaffirmed Atlassian's stock rating as "buy" with a target price of $230.00, indicating a potential upside of 36.53% from its last closing price.
• Despite the positive outlook from Canaccord, other analysts like Barclays and Zacks have adjusted their ratings and target prices downwards, reflecting mixed sentiments about Atlassian's stock.
• Atlassian showed strong quarterly earnings with an EPS of $0.98, surpassing estimates and reflecting a 22.3% year-over-year revenue growth, even as the stock trades below its fifty-two week high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at Canaccord Genuity Group in a note issued to investors on Wednesday,Benzinga reports. They currently have a $230.00 target price on the technology company's stock. Canaccord Genuity Group's target price points to a potential upside of 36.53% from the company's previous close.

TEAM has been the topic of several other reports. Barclays decreased their target price on shares of Atlassian from $244.00 to $215.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Wells Fargo & Company began coverage on shares of Atlassian in a research report on Tuesday, September 30th. They set an "overweight" rating and a $216.00 target price on the stock. Zacks Research downgraded shares of Atlassian from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 7th. BMO Capital Markets lowered their target price on shares of Atlassian from $225.00 to $200.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Finally, Guggenheim assumed coverage on shares of Atlassian in a research note on Thursday, September 11th. They issued a "buy" rating and a $225.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $248.74.

Atlassian Stock Performance

NASDAQ TEAM traded down $0.25 during midday trading on Wednesday, hitting $168.46. The company had a trading volume of 903,839 shares, compared to its average volume of 2,429,695. 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 stock has a market cap of $44.19 billion, a price-to-earnings ratio of -169.98 and a beta of 0.92. The firm has a fifty day simple moving average of $164.48 and a two-hundred day simple moving average of $189.80. Atlassian has a fifty-two week low of $144.32 and a fifty-two week high of $326.00.

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

Insider Activity at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 7,728 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $163.43, for a total transaction of $1,262,987.04. Following the completion of the transaction, the president owned 182,801 shares in the company, valued at approximately $29,875,167.43. This trade represents a 4.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction on Monday, August 4th. The shares were sold at an average price of $185.43, for a total transaction of $1,421,320.95. Following the completion of the sale, the director owned 306,600 shares of the company's stock, valued at $56,852,838. This represents a 2.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 551,608 shares of company stock worth $93,203,568 in the last quarter. 36.66% of the stock is owned by insiders.

Institutional Trading of Atlassian

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in 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 purchasing an additional 436,541 shares during the period. Baillie Gifford & Co. grew its position in Atlassian by 7.1% in the 1st quarter. Baillie Gifford & Co. now owns 8,694,755 shares of the technology company's stock valued at $1,845,114,000 after purchasing an additional 573,696 shares during the period. Artisan Partners Limited Partnership grew its position in Atlassian by 66.3% in the 2nd quarter. Artisan Partners Limited Partnership now owns 3,878,133 shares of the technology company's stock valued at $787,610,000 after purchasing an additional 1,545,546 shares during the period. Massachusetts Financial Services Co. MA grew its position in Atlassian by 21.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,440,813 shares of the technology company's stock valued at $730,175,000 after purchasing an additional 616,071 shares during the period. Finally, Voya Investment Management LLC grew its position in Atlassian by 24.1% in the 1st 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. 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.

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