Benzinga | Jul 16, 2021 08:09AM EDT

Mizuho Raises Price Target On Atlassian, Maintains Buy Rating

* Mizuho analyst Gregg Moskowitz raised the firm's price target on Atlassian Corporation PLC (NASDAQ:TEAM) to $310 from $285, implying a 19.5% upside, and reiterated a Buy rating.

* The economic recovery and recent software channel checks appeared very healthy overall, Moskowitz noted.

* Companies that enable digitization are still leading the way while many legacy and on-premise technologies continue to normalize.

* Additionally, his cybersecurity checks proved notably strong this quarter.

* Price action: TEAM shares closed higher by 0.05% at $259.36 on Thursday.