Atlassian (NASDAQ:TEAM – Get Rating) had its price objective dropped by equities researchers at Mizuho from $360.00 to $320.00 in a report released on Monday, The Fly reports. Mizuho’s price target would suggest a potential upside of 69.31% from the stock’s previous close.
Atlassian Stock: Taking Another Look
A number of other equities analysts have also recently issued reports on TEAM. Morgan Stanley decreased their target price on Atlassian from $460.00 to $430.00 and set an “overweight” rating on the stock in a report on Monday, July 11th. Cowen dropped their price target on Atlassian from $285.00 to $245.00 in a research report on Friday, July 22nd. Wolfe Research lifted their target price on Atlassian from $240.00 to $290.00 and gave the company an “outperform” rating in a research note on Monday, August 8th. Sanford C. Bernstein set a $263.00 price target on shares of Atlassian in a research report on Friday, August 12th. Finally, The Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $279.00 to $300.00 in a research report on Monday, June 27th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $325.32.
Atlassian Price Performance
Shares of Atlassian stock opened at $189.00 on Monday. Atlassian has a 52 week low of $159.54 and a 52 week high of $483.13. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 2.98. The company’s 50-day moving average price is $243.98 and its two-hundred day moving average price is $223.40. The stock has a market cap of $48.18 billion, a PE ratio of -77.78 and a beta of 1.00.
Atlassian (NASDAQ:TEAM – Get Rating) last released its earnings results on Thursday, August 4th. The technology company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.13). The business had revenue of $759.80 million for the quarter, compared to analyst estimates of $724.28 million. Atlassian had a negative net margin of 21.91% and a negative return on equity of 98.61%. The firm’s revenue for the quarter was up 35.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.06) earnings per share. As a group, sell-side analysts anticipate that Atlassian will post -0.92 EPS for the current fiscal year.
Insider Buying and Selling at Atlassian
In other news, CEO Michael Cannon-Brookes sold 8,614 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $215.89, for a total value of $1,859,676.46. Following the completion of the sale, the chief executive officer now directly owns 534,068 shares in the company, valued at $115,299,940.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 43,070 shares of company stock worth $9,492,197 over the last 90 days. Insiders own 43.11% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. National Asset Management Inc. lifted its position in shares of Atlassian by 20.7% during the 1st quarter. National Asset Management Inc. now owns 1,409 shares of the technology company’s stock worth $415,000 after purchasing an additional 242 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Atlassian by 5.1% in the first quarter. CIBC Asset Management Inc now owns 15,865 shares of the technology company’s stock valued at $4,662,000 after acquiring an additional 776 shares during the period. Sands Capital Management LLC grew its stake in shares of Atlassian by 13.5% in the first quarter. Sands Capital Management LLC now owns 6,106,826 shares of the technology company’s stock worth $1,794,369,000 after acquiring an additional 725,599 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Atlassian by 25.6% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 34,000 shares of the technology company’s stock worth $9,990,000 after acquiring an additional 6,937 shares during the period. Finally, K.J. Harrison & Partners Inc acquired a new position in Atlassian during the 2nd quarter valued at $563,000. Institutional investors and hedge funds own 87.29% of the company’s stock.
Atlassian Company Profile
Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include Jira Software and Jira Work Management, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise organizations to build and manage a master plan that maps strategic projects to the various work streams required to deliver them; and Opsgenie, an incident management tool that enables IT teams to plan for and respond to service disruptions.