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

Atlassian (NASDAQ:TEAM) had its price objective raised by Mizuho from $240.00 to $285.00 in a report released on Friday,Benzinga reports. Mizuho currently has an outperform rating on the technology company’s stock.

A number of other research analysts also recently commented on TEAM. KeyCorp lifted their price objective on shares of Atlassian from $260.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Truist Financial lifted their target price on Atlassian from $200.00 to $250.00 and gave the stock a “hold” rating in a research note on Thursday. Raymond James raised their price target on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Piper Sandler upped their price objective on shares of Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Scotiabank increased their price objective on shares of Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $256.50.

Atlassian Stock Down 0.2 %

NASDAQ:TEAM opened at $278.65 on Friday. The company has a market cap of $72.57 billion, a PE ratio of -183.32 and a beta of 0.80. The stock has a 50-day simple moving average of $229.09 and a 200 day simple moving average of $186.92. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian has a 52-week low of $135.29 and a 52-week high of $287.97.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.13. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. Atlassian’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.07) earnings per share. On average, sell-side analysts expect that Atlassian will post -0.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $278.20, for a total value of $2,211,133.60. Following the completion of the transaction, the chief executive officer now directly owns 95,376 shares in the company, valued at approximately $26,533,603.20. The trade was a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Gene Liu sold 165 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $245.84, for a total transaction of $40,563.60. Following the transaction, the chief accounting officer now owns 56,423 shares in the company, valued at $13,871,030.32. The trade was a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 268,642 shares of company stock valued at $56,973,091. Corporate insiders own 38.55% of the company’s stock.

Institutional Investors Weigh In On Atlassian

Institutional investors have recently made changes to their positions in the business. Asset Dedication LLC boosted its holdings in Atlassian by 229.8% during the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after acquiring an additional 108 shares during the period. Rothschild Investment LLC bought a new position in shares of Atlassian in the second quarter worth approximately $36,000. True Wealth Design LLC raised its holdings in Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after buying an additional 231 shares during the last quarter. 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 valued at $37,000 after buying an additional 96 shares during the period. Finally, Reston Wealth Management LLC bought a new stake in Atlassian in the 3rd quarter worth $48,000. Hedge funds and other 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.