In yesterday’s Wall Street session, Atlassian Corporation (NASDAQ:TEAM) shares traded at $198.84, up 17.21% from the previous session.
27 analysts cover Atlassian Corporation (NASDAQ:TEAM), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $420.00 and a low of $140.00, we find $200.00. Given the previous closing price of $169.65, this indicates a potential upside of 17.89 percent. TEAM stock price is now 14.71% away from the 50-day moving average and 25.46% away from the 200-day moving average. The market capitalization of the company currently stands at $43.60B.
The stock has received a hold rating from 10 analysts and a buy rating from 13. Brokers who have rated the stock have averaged $217.76 as their price target over the next twelve months.
With the price target of $150, Berenberg recently initiated with Hold rating for Atlassian Corporation (NASDAQ: TEAM).
In other news, Cannon-Brookes Michael, Co-CEO, Co-Founder sold 8,241 shares of the company’s stock on Aug 03. The stock was sold for $1,394,477 at an average price of $169.21. Upon completion of the transaction, the Co-CEO, Co-Founder now directly owns 329,640 shares in the company, valued at $65.55 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 03, Co-CEO, Co-Founder Farquhar Scott sold 8,241 shares of the business’s stock. A total of $1,394,477 was realized by selling the stock at an average price of $169.21. This leaves the insider owning 329,640 shares of the company worth $65.55 million. Insiders disposed of 3,451,082 shares of company stock worth roughly $686.21 million over the past 1 year. A total of 0.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in TEAM stock. A new stake in Atlassian Corporation shares was purchased by WINSLOW CAPITAL MANAGEMENT, LLC during the first quarter worth $244,813,000. HARDMAN JOHNSTON GLOBAL ADVISORS LLC invested $150,046,000 in shares of TEAM during the first quarter. In the first quarter, SWISS NATIONAL BANK acquired a new stake in Atlassian Corporation valued at approximately $117,766,000. UBS ASSET MANAGEMENT AMERICAS INC acquired a new stake in TEAM for approximately $110,560,000. AMERICAN CENTURY COMPANIES INC purchased a new stake in TEAM valued at around $51,767,000 in the second quarter. In total, there are 902 active investors with 82.60% ownership of the company’s stock.
On Friday morning Atlassian Corporation (NASDAQ: TEAM) stock kicked off with the opening price of $210.91. During the past 12 months, Atlassian Corporation has had a low of $113.86 and a high of $300.29. As of last week, the company has a debt-to-equity ratio of 1.72, a current ratio of 1.30, and a quick ratio of 1.30. The fifty day moving average price for TEAM is $174.12 and a two-hundred day moving average price translates $158.47 for the stock.
The latest earnings results from Atlassian Corporation (NASDAQ: TEAM) was released for Jun, 2023. The net profit margin was -15.90% and return on equity was -108.40% for TEAM. The company reported revenue of $915.45 million for the quarter, compared to $740.49 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 23.63 percent.
Atlassian Corporation(TEAM) Company Profile
Atlassian Corporation, 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. The company also provides Confluence, a social and flexible content collaboration platform used to create, share, organize, and discuss projects; and Trello, a collaboration and organization product that captures and adds structure to fluid, fast-forming work for teams. In addition, it offers Bitbucket, a code management and collaboration product for teams using distributed version control systems; Atlassian Access, an enterprise-wide product for enhanced security and centralized administration that works across every Atlassian cloud product used, including Jira, Jira Service Management, Confluence, Trello, and Bitbucket; and various other products, such as Atlassian cloud apps, Bamboo, Crowd, Crucible, Fisheye, Halp, Sourcetree, and Statuspage. Atlassian Corporation was founded in 2002 and is headquartered in Sydney, Australia.
