These Analysts Revise Their Forecasts On Atlassian After Q4 Results
Portfolio Pulse from Avi Kapoor
Atlassian Corporation (NASDAQ:TEAM) reported better-than-expected Q4 earnings, with EPS of 66 cents beating the estimate of 60 cents and sales of $1.131 billion surpassing the $1.130 billion estimate. Despite positive results, the stock fell 1.9% to $173.24. Analysts revised their price targets: Baird downgraded to Neutral with a target of $175, Goldman Sachs upgraded to Buy with a target of $230, and Truist Securities maintained Hold but cut the target to $160.
August 02, 2024 | 1:05 pm
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Atlassian reported better-than-expected Q4 earnings but shares fell 1.9%. Analysts revised their price targets: Baird downgraded to Neutral with a target of $175, Goldman Sachs upgraded to Buy with a target of $230, and Truist Securities maintained Hold but cut the target to $160.
Despite beating earnings estimates, Atlassian's stock fell 1.9%, indicating mixed market sentiment. Analyst revisions show a divided outlook: Baird's downgrade and Truist's target cut suggest caution, while Goldman Sachs' upgrade indicates optimism. This mixed sentiment is likely to result in neutral short-term price movement.
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