Atlassian (NASDAQ:TEAM) Stock Rating Lowered by Wall Street Zen

Atlassian (NASDAQ:TEAM) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other brokerages have also recently weighed in on TEAM. Truist Financial set a $230.00 price objective on Atlassian in a report on Friday, August 8th. Canaccord Genuity Group decreased their price objective on Atlassian from $255.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, August 8th. Cantor Fitzgerald decreased their price objective on Atlassian from $256.00 to $240.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. Barclays decreased their price objective on Atlassian from $244.00 to $215.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. Finally, BMO Capital Markets decreased their price objective on Atlassian from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus target price of $256.90.

Atlassian Stock Performance

NASDAQ:TEAM opened at $172.43 on Friday. The business’s 50-day moving average price is $185.63 and its two-hundred day moving average price is $208.13. Atlassian has a twelve month low of $154.07 and a twelve month high of $326.00. The stock has a market cap of $45.23 billion, a P/E ratio of -174.17 and a beta of 0.95. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.73.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.15. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Atlassian had a negative return on equity of 14.77% and a negative net margin of 4.92%.The company’s revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 EPS. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. As a group, equities analysts predict that Atlassian will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Scott Farquhar sold 7,665 shares of the firm’s stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $192.44, for a total transaction of $1,475,052.60. Following the transaction, the director directly owned 45,990 shares in the company, valued at $8,850,315.60. This trade represents a 14.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the firm’s stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $192.68, for a total value of $1,476,892.20. Following the transaction, the chief executive officer owned 38,325 shares in the company, valued at approximately $7,384,461. The trade was a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 520,948 shares of company stock worth $99,011,032 in the last ninety days. 38.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Atlassian

A number of large investors have recently made changes to their positions in TEAM. Norges Bank bought a new stake in shares of Atlassian in the 2nd quarter worth approximately $377,794,000. Artisan Partners Limited Partnership grew its position in shares of Atlassian by 66.3% in the 2nd quarter. Artisan Partners Limited Partnership now owns 3,878,133 shares of the technology company’s stock worth $787,610,000 after buying an additional 1,545,546 shares during the last quarter. Nuveen LLC bought a new stake in shares of Atlassian in the 1st quarter worth approximately $327,665,000. AQR Capital Management LLC grew its position in shares of Atlassian by 145.6% in the 1st quarter. AQR Capital Management LLC now owns 1,715,287 shares of the technology company’s stock worth $354,858,000 after buying an additional 1,016,902 shares during the last quarter. Finally, DNB Asset Management AS grew its position in shares of Atlassian by 2,676.8% in the 2nd quarter. DNB Asset Management AS now owns 765,678 shares of the technology company’s stock worth $155,502,000 after buying an additional 738,104 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors.

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.