Atlassian Reaches New 12-Month High Following Analyst Upgrade

On February 1st, 2025, shares of Atlassian Co. (NASDAQ:TEAM) soared to a new 52-week high in trading. The stock's rise was propelled by UBS Group’s decision to upgrade its price target from $275.00 to $330.00 while maintaining a neutral rating on the stock. During trading, Atlassian shares reached a peak of $324.37 before closing at $314.66. The trading volume for the day was 2,005,053 shares, up from a prior close of $266.95.

A number of other analysts also adjusted their target prices for Atlassian following the UBS upgrade. Mizuho increased its target from $285.00 to $355.00 and rated the stock as “outperform.” Morgan Stanley raised its price objective from $315.00 to $370.00, also assigning an “overweight” rating. Canaccord Genuity Group lifted its target from $255.00 to $285.00, giving a “buy” rating. Additionally, BMO Capital Markets upgraded Atlassian from “market perform” to “outperform,” with a new price target of $292.00 set on January 10th. Raymond James reiterated an “outperform” rating and set their target at $330.00, up from $250.00. Overall, analysts are optimistic, with nine research firms rating the stock as a hold and sixteen assigning it a buy rating. MarketBeat reports a consensus rating of “Moderate Buy” for Atlassian with a target price of $307.00.

Insider Trades at Atlassian

In recent insider trading news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian on December 5th at an average price of $278.79, totaling about $2.22 million. After the sale, Cannon-Brookes holds 135,116 shares valued at approximately $37.67 million, which marked a 5.56% decrease in his ownership. This sale was disclosed in a filing with the Securities and Exchange Commission. In addition, Chief Accounting Officer Gene Liu sold 785 shares on November 11th at an average price of $240.00, bringing in $188,400. After this transaction, Liu owns 57,938 shares worth roughly $13.91 million. Overall, insiders sold 257,156 shares valued at $65.31 million in the past quarter, and company insiders own about 38.55% of the stock.

Institutional Investor Activity

Multiple large institutional investors have recently adjusted their holdings in Atlassian. Thrivent Financial for Lutherans acquired a new position valued at around $677,000 during the second quarter. Similarly, Susquehanna Fundamental Investments LLC bought a new stake worth about $407,000 in the same period. Quarry LP significantly increased its holdings by 143.8%, now owning 373 shares valued at $66,000 after purchasing an additional 220 shares in the previous quarter. Truist Financial Corp also grew its holdings by 2.5%, owning 84,358 shares worth $14.92 million following an additional purchase of 2,050 shares. Lastly, Sanctuary Advisors LLC entered the market with a new position worth approximately $1.02 million. Institutional investors control about 94.45% of Atlassian’s stock.

Atlassian's Financials

Atlassian's financial profile shows a quick ratio of 1.18, a current ratio of 1.18, and a debt-to-equity ratio of 0.96. With a market capitalization of $79.89 billion, the company has a P/E ratio of -201.83 and a beta of 0.83. The fifty-day moving average for the stock is $260.51, while the 200-day moving average is $208.06. The company recently reported quarterly earnings on January 30th, posting an earnings per share (EPS) of ($0.12), missing the consensus estimate of $0.73 by a significant margin. Atlassian currently has a negative net margin of 8.59% and a negative return on equity of 23.35%. Research analysts predict an EPS of -0.55 for the current fiscal year.

About Atlassian

Atlassian Corporation, through its various subsidiaries, designs, develops, licenses, and maintains a range of software products globally. Its key offerings include Jira Software and Jira Work Management for project management, Confluence for knowledge organization among teams, and Trello for collaboration and organization, catering to the needs of diverse teams to enhance their workflow and project management.

Atlassian, Stock, Analyst