Robert W. Baird Issues Positive Forecast for Atlassian (NASDAQ:TEAM) Stock Price

Atlassian (NASDAQ:TEAM) had its target price raised by investment analysts at Robert W. Baird from $175.00 to $200.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s target price would indicate a potential downside of 13.60% from the company’s current price.

Other equities research analysts also recently issued reports about the company. StockNews.com downgraded Atlassian from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Truist Financial dropped their price objective on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Raymond James upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a report on Tuesday, October 1st. Mizuho lifted their price objective on shares of Atlassian from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Oppenheimer boosted their price objective on Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a report on Friday. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.74.

Atlassian Stock Performance

Shares of Atlassian stock opened at $231.49 on Friday. The stock has a market cap of $60.19 billion, a price-to-earnings ratio of -199.56 and a beta of 0.73. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. Atlassian has a twelve month low of $135.29 and a twelve month high of $258.69. The company’s fifty day moving average is $172.01 and its 200 day moving average is $171.24.

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

Insider Buying and Selling

In other Atlassian 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 transaction of $123,963.60. Following the sale, the president now owns 143,966 shares of the company’s stock, valued at $23,482,294.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the transaction, the president now owns 143,966 shares of the company’s stock, valued at $23,482,294.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $140.54, for a total transaction of $1,117,011.92. Following the completion of the sale, the chief executive officer now directly owns 294,076 shares in the company, valued at approximately $41,329,441.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 230,185 shares of company stock valued at $39,155,661. Company insiders own 38.55% of the company’s stock.

Institutional Trading of Atlassian

Several institutional investors and hedge funds have recently modified their holdings of TEAM. Asset Dedication LLC increased its position in shares of Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after purchasing an additional 108 shares during the last quarter. Hollencrest Capital Management boosted its stake in Atlassian by 383.9% in 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 in the last quarter. Trust Co. of Vermont increased its holdings in shares of Atlassian by 2,175.0% in 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 bought a new position in shares of Atlassian in the second quarter worth approximately $36,000. Finally, GAMMA Investing LLC boosted its position in Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after buying an additional 96 shares during the period. Hedge funds and other institutional investors own 93.03% of the company’s stock.

About Atlassian

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.