Mizuho Increases Atlassian (NASDAQ:TEAM) Price Target to $240.00

Atlassian (NASDAQ:TEAM) had its price target raised by Mizuho from $200.00 to $240.00 in a research report released on Friday morning, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Several other brokerages have also recently issued reports on TEAM. Piper Sandler boosted their price target on Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday. Jefferies Financial Group boosted their price target on Atlassian from $240.00 to $280.00 and gave the company a “buy” rating in a research note on Friday. JMP Securities upgraded Atlassian to a “hold” rating in a research note on Friday, August 2nd. Capital One Financial upgraded Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target for the company in a research note on Thursday, July 11th. Finally, BMO Capital Markets boosted their price target on Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a research note on Friday. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.16.

Atlassian Stock Performance

Shares of NASDAQ:TEAM traded up $35.81 during trading on Friday, reaching $224.35. 9,591,126 shares of the stock were exchanged, compared to its average volume of 1,914,822. Atlassian has a 12 month low of $135.29 and a 12 month high of $258.69. The firm has a market cap of $58.34 billion, a PE ratio of -147.60 and a beta of 0.71. The stock has a 50-day moving average price of $173.30 and a 200-day moving average price of $171.46. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Atlassian had a negative return on equity of 23.38% and a negative net margin of 8.59%. The business’s revenue was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.21) earnings per share. Research analysts expect that Atlassian will post -0.58 EPS for the current fiscal year.

Insider Transactions at Atlassian

In other news, CEO Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $143.54, for a total transaction of $1,140,855.92. Following the completion of the transaction, the chief executive officer now directly owns 309,972 shares in the company, valued at approximately $44,493,380.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $143.54, for a total transaction of $1,140,855.92. Following the completion of the transaction, the chief executive officer now directly owns 309,972 shares in the company, valued at approximately $44,493,380.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $163.11, for a total value of $123,963.60. Following the completion of the sale, the president now owns 143,966 shares of the company’s stock, valued at $23,482,294.26. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 230,185 shares of company stock worth $39,155,661. Corporate insiders own 38.55% of the company’s stock.

Institutional Trading of Atlassian

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC increased its holdings in Atlassian by 37.0% in the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after purchasing an additional 520 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Atlassian by 7.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,087 shares of the technology company’s stock valued at $27,723,000 after purchasing an additional 10,434 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in Atlassian by 2.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 175,350 shares of the technology company’s stock valued at $34,213,000 after purchasing an additional 3,687 shares during the period. International Assets Investment Management LLC acquired a new stake in Atlassian in the third quarter valued at $97,350,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Atlassian during the second quarter valued at $12,846,000. 93.03% of the stock is currently owned by institutional investors and hedge funds.

About Atlassian

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.