Atlassian Corporation (NASDAQ:TEAM) finished Wednesday with an addition of $7.45 to close at $199.79, an upside of 3.87 percent. An average of 2,305,029 shares of common stock have been traded in the last five days. There was a gain of $29.97 in the past week, and it reached a new high 1 time over the past 12 months. The last 20 days have seen an average of 2,024,967 shares traded, while the 50-day average volume stands at 1,922,557.
TEAM stock has increased by 13.94% in the last month. The company shares reached their 1-month lowest point of $166.99 on 08/03/23. With the stock rallying to its 52-week high on 08/04/23, shares of the company touched a low of $113.86 and a high of $300.29 in 52 weeks. It has reached a new high 15 times so far this year and achieved 55.26% or $70.94 in price. In spite of this, the price is down -33.47% from the 52-week high.
Insider Transactions
TEAM stock investors should be aware that Atlassian Corporation (TEAM) stock had its last reported insider trading activity 2 days ago on Aug 08. In this transaction, the insider spent $1,595,242. Co-CEO, Co-Founder, Farquhar Scott, disposed of 8,241 shares at a price of $193.57 on Aug 08. The insider now owns more than $1,595,237 worth of shares. Prior to that, Co-CEO, Co-Founder Cannon-Brookes Michael went on to Sale 8,241 shares at $191.32 each on Aug 07. An amount of $1,576,675 was transacted.
Valuation Metrics
Atlassian Corporation (TEAM) stock’s beta is 0.71. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 13.06, the price-to-book (PB) ratio at 88.01, and the price-to-cash flow ratio at 56.20.
Financial Health
The quick ratio of Atlassian Corporation for the recent quarter was 1.30, and the current ratio was 1.30, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.67 and a total debt to equity ratio of 1.72 for the recent quarter. Atlassian Corporation’s EBITDA margin is 0.02%, while its operating margin for the same period stands at -10.70%. Its gross profit as reported stood at $2.34 billion compared to revenue of $2.8 billion.
Earnings Surprise
For the recent quarter, Atlassian Corporation had $10.0 million in cash and short-term investments compared to $974.55 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$209.04 million in the quarter, while revenues were grew 100.0%. Shareholders own equity worth $257.01 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Atlassian Corporation (TEAM) price momentum. RSI 9-day as of the close on 09 August was 65.35%, suggesting the stock is Neutral, with historical volatility in this time frame at 94.35%.
As of today, TEAM’s price is $196.09 +17.67% or $29.97 from its 5-day moving average. TEAM is currently trading +12.17% higher than its 20-day SMA and +26.14% higher than its 100-day SMA. However, the stock’s current price level is +18.22% above the SMA50 and +2.84% above the SMA200.
The stochastic %K and %D were 65.03% and 63.61%, respectively, and the average true range (ATR) was 10.89. With the 14-day stochastic at 73.07% and the average true range at 10.21, the RSI (14) stands at 62.78%. The stock has reached 8.99 on the 9-day MACD Oscillator while the 14-day reading was at 13.47.
Analyst Ratings
Berenberg launched coverage on Atlassian Corporation (NASDAQ: TEAM) in its analyst report released on June 29, 2023. The firm assigned the stock a Hold rating. The consensus rating for Atlassian Corporation (TEAM) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell TEAM, while 10 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 4 analysts, while 13 others rate it as a “buy”.
What is TEAM’s price target for the next 12 months?
Analysts predict a range of price targets between $150.00 and $420.00, with a median target of $230.00. Taking a look at these predictions, the average price target given by analysts for Atlassian Corporation (TEAM) stock is $223.76.
