Jefferies Financial Group Issues Pessimistic Forecast for Atlassian (NASDAQ:TEAM) Stock Price

Atlassian (NASDAQ:TEAM - Get Free Report) had its price target decreased by analysts at Jefferies Financial Group from $330.00 to $262.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the technology company's stock. Jefferies Financial Group's price target would indicate a potential upside of 32.08% from the stock's current price.

Other equities research analysts have also issued reports about the stock. Oppenheimer upped their price target on shares of Atlassian from $300.00 to $380.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Cantor Fitzgerald raised Atlassian from a "neutral" rating to an "overweight" rating and reduced their target price for the company from $304.00 to $272.00 in a research note on Wednesday, April 2nd. Macquarie boosted their price objective on shares of Atlassian from $290.00 to $317.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Morgan Stanley raised their target price on shares of Atlassian from $315.00 to $370.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Finally, Stephens assumed coverage on shares of Atlassian in a research note on Wednesday, March 19th. They issued an "equal weight" rating and a $255.00 price target for the company. Eight investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $297.50.

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Atlassian Trading Up 0.2 %

Shares of Atlassian stock traded up $0.34 during trading on Monday, reaching $198.37. The company's stock had a trading volume of 2,003,551 shares, compared to its average volume of 2,039,036. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian has a 52-week low of $135.29 and a 52-week high of $326.00. The firm's 50-day moving average is $251.13 and its two-hundred day moving average is $241.25. The company has a market cap of $51.97 billion, a price-to-earnings ratio of -148.04 and a beta of 1.07.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, sell-side analysts anticipate that Atlassian will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In related news, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction on Friday, January 17th. The stock was sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the sale, the president now owns 210,471 shares of the company's stock, valued at $54,690,889.35. The trade was a 0.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Gene Liu sold 779 shares of the firm's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $320.01, for a total value of $249,287.79. Following the completion of the transaction, the chief accounting officer now directly owns 52,710 shares in the company, valued at $16,867,727.10. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 263,033 shares of company stock worth $68,608,284 in the last three months. Insiders own 38.55% of the company's stock.

Hedge Funds Weigh In On Atlassian

Several institutional investors have recently made changes to their positions in TEAM. Virtu Financial LLC bought a new position in Atlassian in the third quarter worth approximately $606,000. Fulton Bank N.A. bought a new position in Atlassian in the 4th quarter worth $447,000. Allworth Financial LP lifted its position in Atlassian by 3.1% during the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock valued at $404,000 after purchasing an additional 47 shares in the last quarter. Nordea Investment Management AB grew its holdings in Atlassian by 20.1% during the fourth quarter. Nordea Investment Management AB now owns 30,442 shares of the technology company's stock valued at $7,458,000 after purchasing an additional 5,088 shares during the period. Finally, Principal Financial Group Inc. increased its position in Atlassian by 61.4% in the third quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company's stock worth $1,710,000 after buying an additional 4,099 shares in the last quarter. Institutional investors 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.