TD Cowen has revised its outlook on Atlassian (TEAM, Financial), adjusting the price target from $320 to $250 while maintaining a Hold rating on the stock. This decision comes after the firm's analysis of current market conditions and partner feedback.
The report highlights some positive trends, such as consistent win rates and favorable pricing conditions for Atlassian. However, these are tempered by concerns over increased scrutiny on IT budgets. Additionally, the company is navigating significant modifications in partner structures, which could impact its future performance.
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 $306.59 with a high estimate of $420.00 and a low estimate of $225.00. The average target implies an upside of 47.93% from the current price of $207.25. 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 52.72% from the current price of $207.25. 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.
