Atlassian Corporation (NASDAQ: TEAM) stock jumped 0.77% on Wednesday to $160.64 against a previous-day closing price of $159.41. With 1.62 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.07 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $162.38 whereas the lowest price it dropped to was $156.05. The 52-week range on TEAM shows that it touched its highest point at $300.29 and its lowest point at $113.86 during that stretch. It currently has a 1-year price target of $186.33. Beta for the stock currently stands at 0.81.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TEAM was up-trending over the past week, with a rise of 11.52%, but this was up by 12.29% over a month. Three-month performance dropped to -5.85% while six-month performance rose 36.65%. The stock lost -9.60% in the past year, while it has gained 24.84% so far this year. A look at the trailing 12-month EPS for TEAM yields -2.08 with Next year EPS estimates of 2.16. For the next quarter, that number is 0.45. This implies an EPS growth rate of 13.10% for this year and 21.45% for next year. EPS is expected to grow by 23.70% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 27.37%.
Float and Shares Shorts:
At present, 255.87 million TEAM shares are outstanding with a float of 144.16 million shares on hand for trading. On Apr 27, 2023, short shares totaled 4.8 million, which was 1.87% higher than short shares on Mar 30, 2023. In addition to Mr. Michael Cannon-Brookes as the firm’s Co-Founder, Co-CEO & Director, Mr. Scott Farquhar serves as its Co-Founder, Co-CEO & Director.
Through their ownership of 92.79% of TEAM’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 51.46% of TEAM, in contrast to 41.34% held by mutual funds. Shares owned by individuals account for 1.02%. As the largest shareholder in TEAM with 9.04% of the stake, The Vanguard Group, Inc. holds 13,563,166 shares worth 13,563,166. A second-largest stockholder of TEAM, T. Rowe Price Associates, Inc., holds 11,740,879 shares, controlling over 7.82% of the firm’s shares. WCM Investment Management LLC is the third largest shareholder in TEAM, holding 9,532,236 shares or 6.35% stake. With a 3.11% stake in TEAM, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 4,661,301 shares are owned by the mutual fund manager. The Vanguard Mid Cap Index Fund, which owns about 2.34% of TEAM stock, is the second-largest Mutual Fund holder. It holds 3,504,399 shares valued at 517.46 million. WCM Focused International Growth holds 2.00% of the stake in TEAM, owning 2,997,830 shares worth 442.66 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, TEAM reported revenue of $759.84M and operating income of -$63.25M. The EBITDA in the recently reported quarter was -$37.64M and diluted EPS was -$0.41.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TEAM since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With TEAM analysts setting a high price target of $420.00 and a low target of $130.00, the average target price over the next 12 months is $184.15. Based on these targets, TEAM could surge 161.45% to reach the target high and fall by -19.07% to reach the target low. Reaching the average price target will result in a growth of 14.64% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded TEAM stock several times over the past three months with 3 Buys and 578 Sells. In these transactions, 1,142,171 shares were bought while 723,576 shares were sold. The number of buy transactions has increased to 15 while that of sell transactions has risen to 2,323 over the past year. The total number of shares bought during that period was 2,323,726 while 2,477,910 shares were sold.