KeyCorp Cuts Atlassian (NASDAQ:TEAM) Price Target to $210.00

Key Points

• KeyCorp has lowered its price target for Atlassian (NASDAQ:TEAM) from $250.00 to $210.00 while maintaining an "overweight" rating, indicating a potential upside of 25.08% from the stock's current price.
• Multiple research firms have downgraded Atlassian, including Zacks and Capital One, with a consensus price target now at $247.00 and an average rating of "Moderate Buy."
• Atlassian's stock is currently valued at $167.89, with a market cap of $44.04 billion and recent earnings showing a reported EPS of $0.98, exceeding analysts' expectations.

Atlassian (NASDAQ:TEAM - Get Free Report) had its price target lowered by KeyCorp from $250.00 to $210.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the technology company's stock. KeyCorp's target price suggests a potential upside of 25.08% from the stock's current price.

Several other research firms have also issued reports on TEAM. Zacks Research lowered Atlassian from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 7th. Capital One Financial lowered shares of Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price target on the stock. in a report on Wednesday, July 16th. Cantor Fitzgerald dropped their price target on shares of Atlassian from $256.00 to $240.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Bank of America initiated coverage on shares of Atlassian in a research report on Tuesday, September 23rd. They set a "neutral" rating and a $200.00 price objective for the company. Finally, 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 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $247.00.

Atlassian Stock Down 0.5%

Shares of NASDAQ TEAM opened at $167.89 on Thursday. The firm has a market cap of $44.04 billion, a price-to-earnings ratio of -169.58 and a beta of 0.92. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.73. Atlassian has a 52-week low of $144.32 and a 52-week high of $326.00. The business's 50 day moving average is $164.56 and its two-hundred day moving average is $189.65.

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

Insider Activity at Atlassian

In related news, President Anutthara Bharadwaj sold 7,728 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $163.43, for a total transaction of $1,262,987.04. Following the transaction, the president directly owned 182,801 shares of the company's stock, valued at approximately $29,875,167.43. This trade represents a 4.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $185.81, for a total value of $1,424,233.65. Following the completion of the sale, the chief executive officer directly owned 291,270 shares of the company's stock, valued at approximately $54,120,878.70. This represents a 2.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 551,608 shares of company stock valued at $93,203,568 over the last 90 days. 36.66% of the stock is owned by insiders.

Institutional Trading of Atlassian

Hedge funds have recently added to or reduced their stakes in the business. Capco Asset Management LLC purchased a new position in Atlassian in the 2nd quarter worth approximately $25,000. Smithfield Trust Co raised its holdings in Atlassian by 90.7% during the 1st quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock valued at $34,000 after buying an additional 78 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in Atlassian by 447.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company's stock worth $42,000 after acquiring an additional 161 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of Atlassian by 25.9% in the first quarter. First Horizon Advisors Inc. now owns 267 shares of the technology company's stock valued at $57,000 after acquiring an additional 55 shares during the period. Finally, State of Wyoming boosted its holdings in shares of Atlassian by 20.3% during the first quarter. State of Wyoming now owns 278 shares of the technology company's stock worth $59,000 after purchasing an additional 47 shares during the period. 94.45% of the stock is 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.

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