Atlassian (NASDAQ:TEAM) Price Target Increased to $200.00 by Analysts at Mizuho

Atlassian (NASDAQ:TEAM) had its price objective upped by Mizuho from $190.00 to $200.00 in a report released on Thursday, Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

Several other research analysts also recently commented on TEAM. Wells Fargo & Company cut their price objective on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Oppenheimer reaffirmed an “outperform” rating and issued a $230.00 price target on shares of Atlassian in a report on Monday, September 23rd. StockNews.com lowered Atlassian from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Canaccord Genuity Group raised their target price on Atlassian from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Baird R W lowered Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.12.

Atlassian Stock Up 1.7 %

Shares of TEAM opened at $191.70 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian has a 1 year low of $135.29 and a 1 year high of $258.69. The stock’s fifty day moving average price is $164.91 and its two-hundred day moving average price is $171.56.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.21) EPS. As a group, equities research analysts anticipate that Atlassian will post -0.58 earnings per share for the current year.

Insider Activity at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $177.65, for a total transaction of $1,411,962.20. Following the transaction, the chief executive officer now directly owns 357,660 shares in the company, valued at $63,538,299. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $177.65, for a total value of $1,411,962.20. Following the completion of the sale, the chief executive officer now owns 357,660 shares of the company’s stock, valued at approximately $63,538,299. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Rajeev Bashyam Rajan sold 5,172 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $190.00, for a total transaction of $982,680.00. Following the transaction, the chief technology officer now directly owns 204,109 shares in the company, valued at approximately $38,780,710. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 221,477 shares of company stock valued at $36,659,811. Corporate insiders own 40.48% of the company’s stock.

Hedge Funds Weigh In On Atlassian

Institutional investors and hedge funds have recently bought and sold shares of the stock. Asset Dedication LLC boosted its stake in shares of Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after purchasing an additional 108 shares during the period. Hollencrest Capital Management boosted its position in Atlassian by 383.9% during the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after buying an additional 119 shares during the period. Trust Co. of Vermont grew its holdings in Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after acquiring an additional 174 shares during the last quarter. Rothschild Investment LLC purchased a new position in shares of Atlassian in the second quarter valued at about $36,000. Finally, GAMMA Investing LLC raised its stake in shares of Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after acquiring an additional 96 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors.

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.