Atlassian (NASDAQ:TEAM) Price Target Raised to $355.00 at Mizuho

Atlassian (NASDAQ:TEAM) had its target price increased by Mizuho from $285.00 to $355.00 in a report released on Friday,Benzinga reports. Mizuho currently has an outperform rating on the technology company’s stock.

Other research analysts have also issued research reports about the company. Raymond James lifted 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. Cantor Fitzgerald assumed coverage on Atlassian in a report on Friday, January 17th. They issued a “neutral” rating and a $264.00 price target on the stock. Scotiabank raised their price target on Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. Jefferies Financial Group raised their price target on Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Finally, Morgan Stanley raised their price target on Atlassian from $259.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Nine 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, Atlassian presently has an average rating of “Moderate Buy” and an average target price of $307.00.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $306.78 on Friday. The firm has a market cap of $79.90 billion, a PE ratio of -201.83 and a beta of 0.83. The business has a 50 day moving average price of $260.51 and a two-hundred day moving average price of $208.44. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian has a fifty-two week low of $135.29 and a fifty-two week 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%. Sell-side analysts expect that Atlassian will post -0.55 earnings per share for the current fiscal year.

Insider Activity

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $224.33, for a total value of $1,782,974.84. Following the transaction, the chief executive officer now owns 294,076 shares in the company, valued at $65,970,069.08. The trade was a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Heather Mirjahangir Fernandez sold 3,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $275.00, for a total value of $825,000.00. Following the completion of the transaction, the director now owns 5,610 shares in the company, valued at $1,542,750. This trade represents a 34.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 249,208 shares of company stock worth $63,572,404. 38.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TEAM. Virtu Financial LLC acquired a new stake in shares of Atlassian in the third quarter worth about $606,000. Sequoia Financial Advisors LLC lifted its position in shares of Atlassian by 37.0% in the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock worth $306,000 after buying an additional 520 shares during the last quarter. Fulton Bank N.A. acquired a new stake in shares of Atlassian in the fourth quarter worth about $447,000. Paloma Partners Management Co acquired a new stake in shares of Atlassian in the third quarter worth about $1,588,000. Finally, Impax Asset Management Group plc lifted its position in shares of Atlassian by 590.6% in the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock worth $5,940,000 after buying an additional 31,986 shares during the last quarter. 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.