Piper Sandler Boosts Atlassian (NASDAQ:TEAM) Price Target to $310.00

Atlassian (NASDAQ:TEAM) had its price target increased by research analysts at Piper Sandler from $265.00 to $310.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Piper Sandler’s price objective points to a potential upside of 25.08% from the company’s current price.

TEAM has been the topic of a number of other research reports. Canaccord Genuity Group increased their target price on Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Jefferies Financial Group lifted their target price on Atlassian from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. UBS Group upped their price target on shares of Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Mizuho lifted their price objective on shares of Atlassian from $240.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Macquarie started coverage on shares of Atlassian in a research report on Thursday, December 12th. They set a “neutral” rating and a $290.00 target price on the stock. Nine analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $264.25.

Atlassian Trading Down 2.7 %

TEAM stock opened at $247.85 on Monday. Atlassian has a one year low of $135.29 and a one year high of $287.97. The stock has a market cap of $64.55 billion, a price-to-earnings ratio of -163.06 and a beta of 0.83. The company has a fifty day moving average price of $250.65 and a two-hundred day moving average price of $197.58. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.64 by $0.13. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. Atlassian’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.07) EPS. Equities analysts anticipate that Atlassian will post -0.54 EPS for the current year.

Insider Transactions at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $254.76, for a total value of $387,235.20. Following the completion of the transaction, the president now directly owns 211,991 shares in the company, valued at approximately $54,006,827.16. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $278.79, for a total value of $2,215,822.92. Following the sale, the chief executive officer now directly owns 135,116 shares in the company, valued at $37,668,989.64. The trade was a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 269,402 shares of company stock valued at $63,056,206. 38.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Asset Dedication LLC increased its position in Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after acquiring an additional 108 shares during the period. True Wealth Design LLC raised its position in Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after purchasing an additional 231 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Atlassian by 68.6% during the 3rd 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. Reston Wealth Management LLC bought a new stake in shares of Atlassian in the 3rd quarter valued at about $48,000. Finally, Quarry LP increased its stake in shares of Atlassian by 143.8% in the second quarter. Quarry LP now owns 373 shares of the technology company’s stock valued at $66,000 after buying an additional 220 shares during the period. Institutional investors own 94.45% 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.