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

Atlassian (NASDAQ:TEAM) 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.

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:TEAM) 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

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.