UBS Group Raises Atlassian (NASDAQ:TEAM) Price Target to $205.00

Atlassian (NASDAQ:TEAM) had its price objective raised by analysts at UBS Group from $180.00 to $205.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. UBS Group’s target price indicates a potential upside of 6.77% from the stock’s previous close.

Several other research firms also recently weighed in on TEAM. BMO Capital Markets lowered their target price on Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a research report on Friday, August 2nd. Baird R W downgraded Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Capital One Financial upgraded Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 target price on the stock in a research report on Thursday, July 11th. The Goldman Sachs Group upgraded Atlassian from a “neutral” rating to a “buy” rating and lifted their target price for the company from $200.00 to $230.00 in a research report on Friday, August 2nd. Finally, JMP Securities upgraded Atlassian to a “hold” rating in a research report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $212.47.

Atlassian Stock Performance

Shares of TEAM traded down $0.82 during trading hours on Tuesday, hitting $192.01. The stock had a trading volume of 357,685 shares, compared to its average volume of 1,778,577. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian has a 12 month low of $135.29 and a 12 month high of $258.69. The firm has a market capitalization of $49.93 billion, a PE ratio of -165.53 and a beta of 0.73. The stock has a fifty day moving average price of $165.95 and a 200 day moving average price of $171.56.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.59 by $0.07. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. Atlassian’s revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.21) earnings per share. Analysts anticipate that Atlassian will post -0.58 EPS for the current year.

Insider Buying and Selling

In related news, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $163.11, for a total value of $123,963.60. Following the sale, the president now owns 143,966 shares in the company, valued at approximately $23,482,294.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $177.65, for a total value of $1,411,962.20. Following the sale, the chief executive officer now owns 357,660 shares in the company, valued at approximately $63,538,299. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction on Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the transaction, the president now directly owns 143,966 shares of the company’s stock, valued at $23,482,294.26. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 230,185 shares of company stock worth $38,330,579. Insiders own 40.48% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Asset Dedication LLC boosted its stake in Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after buying an additional 108 shares during the period. Hollencrest Capital Management boosted its stake in Atlassian by 383.9% during the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after buying an additional 119 shares during the period. Trust Co. of Vermont boosted its stake in Atlassian by 2,175.0% during the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after buying an additional 174 shares during the period. Rothschild Investment LLC purchased a new position in Atlassian during the second quarter worth $36,000. Finally, GAMMA Investing LLC boosted its stake in Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after buying an additional 96 shares during the period. 93.03% of the stock is owned by hedge funds and other 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.