Mizuho Issues Positive Forecast for Atlassian (NASDAQ:TEAM) Stock Price

Atlassian (NASDAQ:TEAM) had its price objective upped by analysts at Mizuho from $285.00 to $355.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Mizuho’s price target indicates a potential upside of 32.98% from the company’s previous close.

A number of other research analysts have also recently weighed in on TEAM. Cantor Fitzgerald initiated coverage on shares of Atlassian in a research report on Friday, January 17th. They set a “neutral” rating and a $264.00 price target on the stock. Citigroup lifted their target price on shares of Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a report on Friday, January 17th. Wells Fargo & Company increased their price target on Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Raymond James upped their target price on Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets raised Atlassian from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $255.00 to $292.00 in a research report on Friday, January 10th. Nine equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $276.52.

Atlassian Stock Down 1.6 %

Shares of NASDAQ TEAM opened at $266.95 on Friday. The stock has a market capitalization of $69.52 billion, a PE ratio of -175.62 and a beta of 0.83. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The firm has a fifty day moving average of $259.32 and a 200-day moving average of $206.76. Atlassian has a 52-week low of $135.29 and a 52-week high of $287.97.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. On average, analysts anticipate that Atlassian will post -0.55 EPS for the current year.

Insiders Place Their Bets

In other news, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $219.07, for a total transaction of $1,741,168.36. Following the completion of the transaction, the director now owns 309,972 shares in the company, valued at approximately $67,905,566.04. This represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $259.85, for a total transaction of $394,972.00. Following the completion of the sale, the president now directly owns 210,471 shares in the company, valued at approximately $54,690,889.35. This trade represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 257,156 shares of company stock valued at $65,313,573 over the last quarter. Insiders own 38.55% of the company’s stock.

Hedge Funds Weigh In On Atlassian

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares during the period. True Wealth Design LLC lifted its holdings in Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after purchasing an additional 231 shares during the period. Avion Wealth grew its position in Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after buying an additional 157 shares in the last quarter. Reston Wealth Management LLC acquired a new position in Atlassian during the 3rd quarter valued at about $48,000. Finally, Quarry LP lifted its stake in shares of Atlassian by 143.8% in the 2nd quarter. Quarry LP now owns 373 shares of the technology company’s stock worth $66,000 after acquiring an additional 220 shares during the period. 94.45% of the stock is owned by institutional investors.

Atlassian Company Profile

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.