Atlassian Corporation (NASDAQ:TEAM) closed Wednesday at $156.99 per share, down from $166.49 a day earlier. While Atlassian Corporation has underperformed by -5.71%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, TEAM fell by -50.50%, with highs and lows ranging from $318.64 to $113.86, whereas the simple moving average fell by -14.95% in the last 200 days.
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On January 05, 2023, Jefferies Upgraded Atlassian Corporation (NASDAQ: TEAM) to Buy. A report published by Barclays on December 15, 2022, Initiated its previous ‘Equal Weight’ rating for TEAM. Piper Sandler also Downgraded TEAM shares as ‘Neutral’, setting a target price of $148 on the company’s shares in a report dated November 04, 2022. Macquarie November 04, 2022d the rating to Neutral on November 04, 2022, and set its price target from $287 to $147. Bernstein initiated its ‘Outperform’ rating for TEAM, as published in its report on July 20, 2022. Goldman’s report from June 27, 2022 suggests a price prediction of $300 for TEAM shares, giving the stock a ‘Buy’ rating. Citigroup also rated the stock as ‘Buy’.
Analysis of Atlassian Corporation (TEAM)
Further, the quarter-over-quarter increase in sales is 26.80%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Atlassian Corporation’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -84.20% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.30, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and TEAM is recording an average volume of 2.36M. On a monthly basis, the volatility of the stock is set at 4.89%, whereas on a weekly basis, it is put at 4.71%, with a loss of -1.20% over the past seven days. Furthermore, long-term investors anticipate a median target price of $199.32, showing growth from the present price of $156.99, which can serve as yet another indication of whether TEAM is worth investing in or should be passed over.
How Do You Analyze Atlassian Corporation Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.60%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 82.60% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in TEAM shares?
The recent increase in stakes in TEAM appears to be a result of several institutional investors and hedge funds increasing their positions. T. Rowe Price Associates, Inc.’s position in TEAM has increased by 2.51% in the first quarter. The company now owns 19,513,417 shares of the stock, with a value of $3.21 billion, following the purchase of 477,234 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in TEAM during the first quarter, upping its stake by 2,211.04%. During the last quarter, the company picked up 12,734,744 additional shares for a total stake of worth $2.19 billion, bringing number of shares owned by the company to 13,310,706.
During the first quarter, WCM Investment Management LLC added a 3,623,862 position in TEAM. Baillie Gifford & Co. purchased an additional 2.2 million shares in the last quarter, increasing its holdings by 40.42%, now holding 7.64 million shares worth $1.26 billion. At the end of the first quarter, Janus Henderson Investors US LLC increased its TEAM holdings by 2.62% and now holds 5.71 million TEAM shares valued at $938.79 million with the added 0.15 million shares during the period. TEAM shares are owned by institutional investors to the tune of 82.60% at present.
