For Atlassian Corporation [TEAM], Analyst sees a drop to $148. What next?

Atlassian Corporation [NASDAQ: TEAM] loss -8.44% or -11.91 points to close at $129.27 with a heavy trading volume of 2828657 shares. The company report on November 3, 2022 that Atlassian Named a Leader in the 2022 Gartner® Magic Quadrant™ for IT Service Management Platforms.

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Atlassian Corporation (NASDAQ: TEAM), a leading provider of team collaboration and productivity software, has been named a Leader in the 2022 Gartner® Magic Quadrant™ for IT Service Management Platforms.1.

It opened the trading session at $138.44, the shares rose to $139.715 and dropped to $128.96, the range by which the price of stock traded the whole day. The daily chart for TEAM points out that the company has recorded -20.44% loss over the past six months. However, it is still -13.29% lower than its most recent low trading price.

If we look at the average trading volume of 2.07M shares, TEAM reached to a volume of 2828657 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Atlassian Corporation [TEAM]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TEAM shares is $208.40 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TEAM stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Sandler have made an estimate for Atlassian Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 04, 2022. While these analysts kept the previous recommendation, Macquarie dropped their target price from $287 to $147. The new note on the price target was released on November 04, 2022, representing the official price target for Atlassian Corporation stock. Previously, the target price had yet another raise to $257, while Bernstein analysts kept a Outperform rating on TEAM stock. On June 27, 2022, analysts increased their price target for TEAM shares from 279 to 300.

The Average True Range (ATR) for Atlassian Corporation is set at 14.90, with the Price to Sales ratio for TEAM stock in the period of the last 12 months amounting to 11.66. The Price to Book ratio for the last quarter was 97.93, with the Price to Cash per share for the same quarter was set at 5.77. Price to Free Cash Flow for TEAM in the course of the last twelve months was 39.88 with Quick ratio for the last quarter at 1.20.

Trading performance analysis for TEAM stock

Atlassian Corporation [TEAM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.71. With this latest performance, TEAM shares dropped by -35.83% in over the last four-week period, additionally sinking by -20.44% over the last 6 months – not to mention a drop of -70.88% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TEAM stock in for the last two-week period is set at 32.85, with the RSI for the last a single of trading hit 32.72, and the three-weeks RSI is set at 34.03 for Atlassian Corporation [TEAM]. The present Moving Average for the last 50 days of trading for this stock 201.20, while it was recorded at 137.73 for the last single week of trading, and 231.61 for the last 200 days.

Atlassian Corporation [TEAM]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Atlassian Corporation [TEAM] shares currently have an operating margin of -3.34 and a Gross Margin at +83.06. Atlassian Corporation’s Net Margin is presently recorded at -21.91.

Return on Equity for this stock declined to -194.80, with Return on Assets sitting at -19.48.

Atlassian Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.

Atlassian Corporation [TEAM]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TEAM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Atlassian Corporation go to 20.00%.

An analysis of insider ownership at Atlassian Corporation [TEAM]

There are presently around $15,376 million, or 89.50% of TEAM stock, in the hands of institutional investors. The top three institutional holders of TEAM stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 19,036,183, which is approximately -16.117% of the company’s market cap and around 0.60% of the total institutional ownership; JENNISON ASSOCIATES LLC, holding 7,134,346 shares of the stock with an approximate value of $922.26 million in TEAM stocks shares; and WCM INVESTMENT MANAGEMENT, LLC, currently with $760.09 million in TEAM stock with ownership of nearly 75.162% of the company’s market capitalization.

Positions in Atlassian Corporation stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 303 institutional holders increased their position in Atlassian Corporation [NASDAQ:TEAM] by around 18,189,000 shares. Additionally, 341 investors decreased positions by around 28,133,538 shares, while 99 investors held positions by with 72,623,486 shares. The mentioned changes placed institutional holdings at 118,946,024 shares, according to the latest SEC report filing. TEAM stock had 83 new institutional investments in for a total of 2,937,227 shares, while 137 institutional investors sold positions of 11,903,863 shares during the same period.


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