Investment firm Baird has raised its rating on Atlassian (TEAM, Financial) to Outperform from Neutral, while adjusting its price target to $255, a decrease from the previous $320. This upgrade highlights Atlassian's robust business strategy, its suite of strong products, and a leading partner network, elements that have long positioned the company as a standout in the growth software sector.
Baird's decision comes after its attendance at Team’25 last week, which left the firm optimistic about Atlassian's platform positioning. The firm acknowledged Atlassian's potential in platform opportunities and its well-received approach to generative artificial intelligence. Additionally, the company's valuation is noted to be at the lower end of its historical range, making the stock appealing to investors with a long-term focus.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 28 analysts, the average target price for Atlassian Corp (TEAM, Financial) is $314.59 with a high estimate of $420.00 and a low estimate of $225.00. The average target implies an upside of 58.59% from the current price of $198.37. More detailed estimate data can be found on the Atlassian Corp (TEAM) Forecast page.
Based on the consensus recommendation from 32 brokerage firms, Atlassian Corp's (TEAM, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Atlassian Corp (TEAM, Financial) in one year is $316.51, suggesting a upside of 59.56% from the current price of $198.37. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Atlassian Corp (TEAM) Summary page.
