Atlassian (NASDAQ:TEAM) Stock Price Expected to Rise, Mizuho Analyst Says

Atlassian (NASDAQ:TEAM) had its target price boosted 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.

Several other research analysts have also commented on TEAM. Morgan Stanley raised their price objective on shares of Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. BMO Capital Markets raised their price target on shares of Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Canaccord Genuity Group increased their price objective on Atlassian from $225.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Scotiabank lifted their target price on Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. Finally, Raymond James upped their price target on Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and a consensus target price of $256.50.

Atlassian Stock Down 0.2 %

NASDAQ:TEAM opened at $278.65 on Friday. Atlassian has a 52 week low of $135.29 and a 52 week high of $287.97. The stock’s fifty day moving average is $226.93 and its two-hundred day moving average is $185.86. The stock has a market capitalization of $72.57 billion, a price-to-earnings ratio of -183.32 and a beta of 0.80. 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 (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the business earned ($0.07) EPS. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. Research analysts anticipate that Atlassian will post -0.54 EPS for the current year.

Insider Activity

In other Atlassian news, CAO Gene Liu sold 165 shares of Atlassian stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total value of $40,563.60. Following the transaction, the chief accounting officer now directly owns 56,423 shares in the company, valued at approximately $13,871,030.32. This trade represents a 0.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $163.56, for a total value of $1,299,974.88. Following the sale, the chief executive officer now owns 55,636 shares of the company’s stock, valued at $9,099,824.16. This trade represents a 12.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 276,590 shares of company stock valued at $58,284,749. 38.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Atlassian

Several institutional investors have recently bought and sold shares of TEAM. Asset Dedication LLC boosted its holdings in shares of Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after acquiring an additional 108 shares in the last quarter. Rothschild Investment LLC purchased a new stake in Atlassian in the 2nd quarter valued at approximately $36,000. GAMMA Investing LLC raised its stake in shares of 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 buying an additional 96 shares in the last quarter. 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 valued at $37,000 after acquiring an additional 231 shares during the period. Finally, Reston Wealth Management LLC purchased a new stake in shares of Atlassian during the 3rd quarter worth $48,000. 94.45% of the stock is owned by institutional investors and hedge funds.

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.