Market Analysts see Atlassian Corporation [TEAM] falling to $148. Time to buy?

Atlassian Corporation [NASDAQ: TEAM] jumped around 8.16 points on Wednesday, while shares priced at $124.50 at the close of the session, up 7.01%. 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.

Atlassian Corporation stock is now -67.35% down from its year-to-date (YTD) trading value. TEAM Stock saw the intraday high of $125.00 and lowest of $115.24 per share. The company’s 52-week high price is 404.68, which means current price is +9.35% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 2.17M shares, TEAM reached a trading volume of 2834720 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 2.00. 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 12.09, with the Price to Sales ratio for TEAM stock in the period of the last 12 months amounting to 11.63. The Price to Book ratio for the last quarter was 94.32, with the Price to Cash per share for the same quarter was set at 5.57. Price to Free Cash Flow for TEAM in the course of the last twelve months was 39.78 with Quick ratio for the last quarter at 1.20.

How has TEAM stock performed recently?

Atlassian Corporation [TEAM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.69. With this latest performance, TEAM shares dropped by -39.57% in over the last four-week period, additionally sinking by -27.09% over the last 6 months – not to mention a drop of -68.04% 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 34.92, with the RSI for the last a single of trading hit 36.88, and the three-weeks RSI is set at 35.14 for Atlassian Corporation [TEAM]. The present Moving Average for the last 50 days of trading for this stock 187.80, while it was recorded at 119.77 for the last single week of trading, and 226.75 for the last 200 days.

Atlassian Corporation [TEAM]: Deeper insight into the fundamentals

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.

Earnings analysis for Atlassian Corporation [TEAM]

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%.

Insider trade positions for Atlassian Corporation [TEAM]

There are presently around $14,808 million, or 82.60% 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 $888.23 million in TEAM stocks shares; and WCM INVESTMENT MANAGEMENT, LLC, currently with $732.05 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 306 institutional holders increased their position in Atlassian Corporation [NASDAQ:TEAM] by around 18,190,317 shares. Additionally, 337 investors decreased positions by around 28,136,009 shares, while 99 investors held positions by with 72,615,205 shares. The mentioned changes placed institutional holdings at 118,941,531 shares, according to the latest SEC report filing. TEAM stock had 82 new institutional investments in for a total of 2,937,207 shares, while 137 institutional investors sold positions of 11,903,049 shares during the same period.

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