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

Atlassian (NASDAQ:TEAM) had its price target hoisted by Mizuho from $285.00 to $355.00 in a research note published on Friday,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Several other equities research analysts have also recently commented on TEAM. Canaccord Genuity Group boosted their price target on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, December 20th. BMO Capital Markets raised Atlassian from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $255.00 to $292.00 in a report on Friday, January 10th. Morgan Stanley boosted their target price on Atlassian from $259.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. KeyCorp increased their price target on Atlassian from $260.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, Jefferies Financial Group upped their price objective on shares of Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Nine investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $307.00.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $306.78 on Friday. The stock has a 50 day simple moving average of $260.51 and a 200-day simple moving average of $208.06. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian has a 12-month low of $135.29 and a 12-month high of $324.37.

Atlassian (NASDAQ:TEAM) last issued its 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, equities analysts expect that Atlassian will post -0.55 earnings per share for the current year.

Insider Activity at Atlassian

In other Atlassian news, CAO Gene Liu sold 445 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $230.00, for a total transaction of $102,350.00. Following the completion of the sale, the chief accounting officer now directly owns 58,723 shares of the company’s stock, valued at approximately $13,506,290. The trade was a 0.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Monday, November 4th. The stock was sold at an average price of $219.07, for a total transaction of $1,741,168.36. Following the sale, the director now directly owns 309,972 shares of the company’s stock, valued at $67,905,566.04. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 257,156 shares of company stock valued at $65,313,573 in the last ninety days. Insiders own 38.55% of the company’s stock.

Institutional Investors Weigh In On Atlassian

Several large investors have recently made changes to their positions in the stock. Allworth Financial LP lifted its holdings in shares of Atlassian by 3.1% in the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after purchasing an additional 47 shares in the last quarter. GAMMA Investing LLC boosted its position in Atlassian by 22.9% during the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock worth $71,000 after acquiring an additional 54 shares during the last quarter. Venturi Wealth Management LLC boosted its position in Atlassian by 4.0% during the 4th quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company’s stock worth $357,000 after acquiring an additional 56 shares during the last quarter. J.W. Cole Advisors Inc. raised its holdings in shares of Atlassian by 1.5% in the fourth quarter. J.W. Cole Advisors Inc. now owns 3,958 shares of the technology company’s stock valued at $963,000 after purchasing an additional 59 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC lifted its position in shares of Atlassian by 2.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock worth $544,000 after purchasing an additional 70 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

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.