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

Atlassian (NASDAQ:TEAM - Get Free Report) had its price target increased by research analysts at Mizuho from $285.00 to $355.00 in a research note issued on Friday,Benzinga reports. The firm currently has an "outperform" rating on the technology company's stock. Mizuho's target price indicates a potential upside of 17.48% from the stock's previous close.

TEAM has been the subject of a number of other reports. Macquarie began coverage on Atlassian in a report on Thursday, December 12th. They set a "neutral" rating and a $290.00 price target for the company. Oppenheimer increased their price target on Atlassian from $270.00 to $300.00 and gave the company an "outperform" rating in a research report on Monday, January 6th. Citigroup increased their price target on Atlassian from $255.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, January 17th. Canaccord Genuity Group increased their price target on Atlassian from $255.00 to $285.00 and gave the company a "buy" rating in a research report on Friday, December 20th. Finally, Truist Financial raised Atlassian from a "hold" rating to a "buy" rating and increased their price target for the company from $250.00 to $300.00 in a research report on Tuesday, January 7th. Nine equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $307.00.

Atlassian Stock Performance

NASDAQ:TEAM traded up $35.23 during trading hours on Friday, reaching $302.18. The company had a trading volume of 6,867,674 shares, compared to its average volume of 2,105,209. Atlassian has a 1-year low of $135.29 and a 1-year high of $324.37. The firm has a market cap of $78.70 billion, a PE ratio of -199.08 and a beta of 0.83. The business's 50 day moving average price is $259.32 and its 200-day moving average price is $206.76. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share 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%. Research analysts forecast that Atlassian will post -0.55 EPS for the current year.

Insider Buying and Selling at Atlassian

In related news, President Anutthara Bharadwaj sold 1,520 shares of the business's stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $259.85, for a total value of $394,972.00. Following the transaction, the president now owns 210,471 shares in the company, valued at approximately $54,690,889.35. The trade was a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $219.07, for a total value of $1,741,168.36. Following the completion of the transaction, the director now owns 309,972 shares in the company, valued at approximately $67,905,566.04. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 257,156 shares of company stock valued at $65,313,573. Company insiders own 38.55% of the company's stock.

Institutional Trading of Atlassian

Several institutional investors and hedge funds have recently bought and sold shares of the company. Baillie Gifford & Co. raised its stake in Atlassian by 0.9% during the third quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company's stock valued at $1,352,115,000 after buying an additional 78,454 shares in the last quarter. State Street Corp raised its stake in Atlassian by 0.3% during the third quarter. State Street Corp now owns 3,560,381 shares of the technology company's stock valued at $565,424,000 after buying an additional 8,957 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Atlassian by 5.6% during the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company's stock valued at $393,588,000 after buying an additional 131,621 shares in the last quarter. FMR LLC raised its position in shares of Atlassian by 7.4% during the 3rd quarter. FMR LLC now owns 2,182,980 shares of the technology company's stock worth $346,679,000 after purchasing an additional 150,237 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Atlassian by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company's stock worth $340,453,000 after purchasing an additional 57,911 shares during the period. Institutional investors and hedge funds own 94.45% of the company's stock.

About Atlassian

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.