Jefferies Financial Group Boosts Atlassian (NASDAQ:TEAM) Price Target to $300.00

Atlassian (NASDAQ:TEAMGet Free Report) had its target price hoisted by investment analysts at Jefferies Financial Group from $280.00 to $300.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 18.94% from the company’s current price.

A number of other equities research analysts also recently commented on the stock. KeyCorp raised shares of Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price objective on the stock in a research report on Friday, November 1st. Piper Sandler increased their target price on Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Barclays decreased their price target on Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Morgan Stanley raised their target price on Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Raymond James increased their price target on shares of Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $244.21.

Check Out Our Latest Analysis on TEAM

Atlassian Stock Down 0.2 %

Atlassian stock traded down $0.55 during mid-day trading on Thursday, reaching $252.23. 959,233 shares of the company’s stock were exchanged, compared to its average volume of 1,854,546. Atlassian has a twelve month low of $135.29 and a twelve month high of $258.69. The company has a fifty day moving average of $184.61 and a 200-day moving average of $173.61. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The company has a market cap of $65.69 billion, a P/E ratio of -165.94 and a beta of 0.71.

Atlassian (NASDAQ:TEAMGet Free Report) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the business earned ($0.07) EPS. Atlassian’s revenue was up 21.5% on a year-over-year basis. Sell-side analysts expect that Atlassian will post -0.56 EPS for the current year.

Insider Activity

In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $164.81, for a total transaction of $1,309,909.88. Following the sale, the chief executive officer now directly owns 182,804 shares in the company, valued at approximately $30,127,927.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $164.81, for a total value of $1,309,909.88. Following the completion of the transaction, the chief executive officer now owns 182,804 shares in the company, valued at $30,127,927.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $146.08, for a total transaction of $29,069.92. Following the completion of the sale, the chief technology officer now owns 128,957 shares in the company, valued at $18,838,038.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,395 shares of company stock valued at $46,787,439 in the last three months. 38.55% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Atlassian

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vinva Investment Management Ltd raised its holdings in shares of Atlassian by 11.2% in the third quarter. Vinva Investment Management Ltd now owns 6,698 shares of the technology company’s stock worth $1,080,000 after acquiring an additional 673 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Atlassian by 5.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,210,351 shares of the technology company’s stock valued at $192,216,000 after purchasing an additional 58,536 shares in the last quarter. Blueshift Asset Management LLC acquired a new stake in shares of Atlassian during the 3rd quarter worth about $1,760,000. Townsquare Capital LLC raised its position in shares of Atlassian by 16.0% in the third quarter. Townsquare Capital LLC now owns 1,338 shares of the technology company’s stock valued at $212,000 after buying an additional 185 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of Atlassian during the third quarter valued at approximately $178,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Atlassian (NASDAQ:TEAM)

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