Atlassian (NASDAQ:TEAM) Now Covered by Cantor Fitzgerald

Stock analysts at Cantor Fitzgerald began coverage on shares of Atlassian (NASDAQ:TEAM - Get Free Report) in a note issued to investors on Friday, MarketBeat.com reports. The brokerage set a "neutral" rating and a $264.00 price target on the technology company's stock. Cantor Fitzgerald's price objective would suggest a potential upside of 4.69% from the stock's previous close.

Several other research firms have also recently weighed in on TEAM. Oppenheimer upped their price target on shares of Atlassian from $270.00 to $300.00 and gave the company an "outperform" rating in a report on Monday, January 6th. Scotiabank upped their target price on shares of Atlassian from $175.00 to $250.00 and gave the stock a "sector perform" rating in a research note on Friday, November 1st. Mizuho lifted their price target on Atlassian from $240.00 to $285.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. Wells Fargo & Company upped their price objective on Atlassian from $300.00 to $350.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. Finally, BMO Capital Markets raised Atlassian from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $255.00 to $292.00 in a research report on Friday, January 10th. Nine equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $272.00.

Atlassian Trading Down 0.8 %

Shares of NASDAQ TEAM traded down $2.08 during midday trading on Friday, reaching $252.17. 622,968 shares of the stock were exchanged, compared to its average volume of 1,738,997. 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 has a 12 month low of $135.29 and a 12 month high of $287.97. The business has a 50-day simple moving average of $256.07 and a two-hundred day simple moving average of $201.44. The company has a market capitalization of $65.67 billion, a price-to-earnings ratio of -165.97 and a beta of 0.83.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the company earned ($0.07) earnings per share. The company's revenue for the quarter was up 21.5% compared to the same quarter last year. As a group, equities research analysts expect that Atlassian will post -0.55 EPS for the current year.

Insider Activity

In related news, CAO Gene Liu sold 1,024 shares of Atlassian stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $225.45, for a total transaction of $230,860.80. Following the completion of the sale, the chief accounting officer now directly owns 59,168 shares of the company's stock, valued at approximately $13,339,425.60. This trade represents a 1.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Heather Mirjahangir Fernandez sold 1,500 shares of the company's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $225.45, for a total value of $338,175.00. Following the completion of the transaction, the director now directly owns 8,610 shares in the company, valued at approximately $1,941,124.50. This represents a 14.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 270,668 shares of company stock valued at $65,408,691 over the last ninety days. 38.55% of the stock is currently owned by company insiders.

Institutional Trading of Atlassian

Several hedge funds and other institutional investors have recently bought and sold shares of the business. True Wealth Design LLC increased its holdings in shares of Atlassian by 23,100.0% during the third 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 period. GAMMA Investing LLC increased its stake 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 acquiring an additional 96 shares during the period. Reston Wealth Management LLC acquired a new position in Atlassian in the 3rd quarter valued at $48,000. Quarry LP lifted its position in shares of Atlassian by 143.8% during the 2nd quarter. Quarry LP now owns 373 shares of the technology company's stock valued at $66,000 after acquiring an additional 220 shares during the period. Finally, Brown Brothers Harriman & Co. grew its holdings in shares of Atlassian by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company's stock worth $69,000 after purchasing an additional 82 shares in the last quarter. Institutional investors and hedge funds own 94.45% 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.