Atlassian (NASDAQ:TEAM) Given a $235.00 Price Target by Mizuho Analysts

Atlassian (NASDAQ:TEAM) received a $235.00 target price from research analysts at Mizuho in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Mizuho’s target price indicates a potential upside of 48.73% from the stock’s current price.

A number of other analysts have also recently commented on TEAM. Piper Sandler reiterated an “overweight” rating and set a $300.00 price objective (down previously from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. BMO Capital Markets dropped their price target on Atlassian from $225.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday. Raymond James Financial reissued an “outperform” rating and set a $300.00 price target (down from $330.00) on shares of Atlassian in a research note on Friday, May 2nd. Capital One Financial lowered Atlassian from an “overweight” rating to an “equal weight” rating and set a $211.00 price objective for the company. in a research note on Wednesday, July 16th. Finally, KeyCorp lowered their price objective on Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research note on Thursday, July 17th. Five equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $259.76.

Atlassian Stock Down 0.8%

NASDAQ:TEAM traded down $1.28 during trading hours on Friday, reaching $158.00. 5,757,889 shares of the company traded hands, compared to its average volume of 2,393,027. The business’s 50-day moving average price is $198.47 and its two-hundred day moving average price is $224.83. The stock has a market capitalization of $41.48 billion, a P/E ratio of -159.59 and a beta of 0.96. Atlassian has a 1 year low of $139.23 and a 1 year high of $326.00. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, August 7th. The technology company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.15. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Atlassian had a negative return on equity of 15.19% and a negative net margin of 4.92%. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 earnings per share. Analysts predict that Atlassian will post -0.34 earnings per share for the current year.

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $221.41, for a total transaction of $1,759,766.68. Following the sale, the chief executive officer owned 111,272 shares of the company’s stock, valued at approximately $24,636,733.52. This trade represents a 6.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $214.92, for a total value of $1,708,184.16. Following the sale, the director directly owned 103,324 shares in the company, valued at $22,206,394.08. This trade represents a 7.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 529,493 shares of company stock worth $107,199,260 over the last 90 days. 38.55% of the stock is currently owned by company insiders.

Institutional Trading of Atlassian

Institutional investors have recently made changes to their positions in the business. Clean Yield Group lifted its position in Atlassian by 372.0% during the 1st quarter. Clean Yield Group now owns 118 shares of the technology company’s stock worth $25,000 after acquiring an additional 93 shares during the period. Capco Asset Management LLC acquired a new stake in Atlassian during the 2nd quarter worth about $25,000. Colonial Trust Co SC lifted its position in Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock worth $34,000 after acquiring an additional 69 shares during the period. Smithfield Trust Co lifted its position in Atlassian by 90.7% during the 1st quarter. Smithfield Trust Co now owns 164 shares of the technology company’s stock worth $34,000 after acquiring an additional 78 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after acquiring an additional 161 shares during the period. Institutional investors and hedge funds 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.