Atlassian (NASDAQ:TEAM) Price Target Raised to $355.00

Atlassian (NASDAQ:TEAM) had its price objective upped by Mizuho from $285.00 to $355.00 in a research note released on Friday morning,Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

Other research analysts have also issued research reports about the company. Piper Sandler upped their price objective on Atlassian from $265.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. BMO Capital Markets raised Atlassian from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $255.00 to $292.00 in a report on Friday, January 10th. Raymond James upped their target price on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Oppenheimer upped their target price on Atlassian from $270.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Finally, Jefferies Financial Group upped their target price on Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a report on Friday, January 24th. Nine equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $307.00.

Atlassian Price Performance

Atlassian stock opened at $306.78 on Friday. Atlassian has a 12 month low of $135.29 and a 12 month high of $324.37. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The business has a 50 day simple moving average of $260.51 and a 200-day simple moving average of $208.44. The stock has a market capitalization of $79.90 billion, a PE ratio of -201.83 and a beta of 0.83.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS 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%. Equities analysts predict that Atlassian will post -0.55 earnings per share for the current year.

Insider Transactions at Atlassian

In other news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $270.63, for a total value of $2,150,967.24. Following the transaction, the director now directly owns 333,816 shares in the company, valued at $90,340,624.08. This trade represents a 2.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Anutthara Bharadwaj sold 1,659 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $245.81, for a total value of $407,798.79. Following the completion of the transaction, the president now owns 213,511 shares in the company, valued at approximately $52,483,138.91. This trade represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 249,208 shares of company stock worth $63,572,404 in the last three months. 38.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Atlassian

Large investors have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after buying an additional 96 shares during the period. True Wealth Design LLC raised its holdings in shares of Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after buying an additional 231 shares during the period. Avion Wealth raised its holdings in shares of Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after buying an additional 157 shares during the period. Reston Wealth Management LLC purchased a new stake in shares of Atlassian during the 3rd quarter valued at about $48,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Atlassian during the 4th quarter valued at about $56,000. 94.45% of the stock is currently owned by hedge funds and other 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.