Atlassian (NASDAQ:TEAM) Given New $200.00 Price Target at Mizuho

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

Other research analysts also recently issued research reports about the company. Oppenheimer reissued an “outperform” rating and issued a $230.00 price target on shares of Atlassian in a research note on Monday, September 23rd. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. BMO Capital Markets lowered their target price on Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a research note on Friday, August 2nd. The Goldman Sachs Group raised Atlassian from a “neutral” rating to a “buy” rating and upped their price target for the stock from $200.00 to $230.00 in a research report on Friday, August 2nd. Finally, Capital One Financial raised Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target for the company in a research report on Thursday, July 11th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and an average price target of $215.12.

Atlassian Price Performance

Shares of TEAM stock opened at $188.50 on Thursday. The firm’s 50 day moving average price is $163.90 and its two-hundred day moving average price is $171.91. The stock has a market cap of $49.02 billion, a PE ratio of -162.50 and a beta of 0.73. Atlassian has a 52-week low of $135.29 and a 52-week high of $258.69. 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 (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.21) EPS. As a group, analysts forecast that Atlassian will post -0.58 EPS for the current year.

Insiders Place Their Bets

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the transaction, the president now owns 143,966 shares in the company, valued at $23,482,294.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the sale, the president now directly owns 143,966 shares of the company’s stock, valued at approximately $23,482,294.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $169.47, for a total value of $1,346,947.56. Following the sale, the chief executive officer now directly owns 373,556 shares in the company, valued at $63,306,535.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 229,425 shares of company stock worth $38,058,262 in the last 90 days. Company insiders own 40.48% of the company’s stock.

Institutional Trading of Atlassian

Several institutional investors have recently added to or reduced their stakes in TEAM. Dragoneer Investment Group LLC bought a new stake in Atlassian in the second quarter valued at approximately $469,803,000. Price T Rowe Associates Inc. MD boosted its holdings in Atlassian by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock valued at $2,173,847,000 after acquiring an additional 904,138 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in Atlassian in the second quarter valued at approximately $91,072,000. Quadrature Capital Ltd acquired a new position in Atlassian in the first quarter valued at approximately $55,307,000. Finally, Swedbank AB acquired a new position in Atlassian in the first quarter valued at approximately $50,923,000. 93.03% of the stock is currently owned by institutional investors.

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.