Mizuho Lowers Atlassian (NASDAQ:TEAM) Price Target to $225.00

Atlassian (NASDAQ:TEAM) had its price target decreased by Mizuho from $240.00 to $225.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Mizuho’s price objective would suggest a potential upside of 25.38% from the company’s previous close.

TEAM has been the topic of several other research reports. Barclays raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $235.00 to $275.00 in a report on Thursday, April 11th. KeyCorp initiated coverage on shares of Atlassian in a research note on Tuesday, March 19th. They set a “sector weight” rating on the stock. The Goldman Sachs Group increased their price target on Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Wells Fargo & Company boosted their price objective on Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Finally, Truist Financial increased their target price on Atlassian from $180.00 to $220.00 and gave the stock a “hold” rating in a research report on Tuesday, January 16th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $223.22.

Atlassian Trading Down 9.6 %

NASDAQ:TEAM opened at $179.45 on Friday. Atlassian has a one year low of $128.02 and a one year high of $258.69. The business has a fifty day moving average price of $199.98 and a 200-day moving average price of $206.54. The firm has a market capitalization of $46.55 billion, a price-to-earnings ratio of -284.84 and a beta of 0.63. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.24). Atlassian had a negative net margin of 3.90% and a negative return on equity of 15.54%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. Sell-side analysts forecast that Atlassian will post -0.4 EPS for the current year.

Insider Activity at Atlassian

In related news, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $253.53, for a total transaction of $2,089,340.73. Following the sale, the chief executive officer now owns 346,122 shares of the company’s stock, valued at $87,752,310.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, President Anutthara Bharadwaj sold 4,139 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total value of $881,068.93. Following the completion of the transaction, the president now owns 167,535 shares of the company’s stock, valued at approximately $35,663,175.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $253.53, for a total value of $2,089,340.73. Following the sale, the chief executive officer now directly owns 346,122 shares in the company, valued at $87,752,310.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 300,450 shares of company stock valued at $61,721,553. 40.48% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Atlassian

Several institutional investors have recently modified their holdings of TEAM. Vanguard Group Inc. increased its position in shares of Atlassian by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock valued at $3,652,495,000 after purchasing an additional 504,181 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Atlassian by 3.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,237,507 shares of the technology company’s stock valued at $2,435,095,000 after acquiring an additional 326,673 shares during the last quarter. WCM Investment Management LLC raised its stake in shares of Atlassian by 2.7% in the fourth quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock valued at $2,325,490,000 after acquiring an additional 249,017 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of Atlassian by 20.7% in the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock worth $2,094,980,000 after acquiring an additional 1,511,318 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its stake in shares of Atlassian by 1.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 6,048,160 shares of the technology company’s stock worth $1,218,765,000 after purchasing an additional 63,903 shares during the period. 93.03% of the stock is 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.