Atlassian Stock (TEAM): $325 Price Target From Cowen

By Amit Chowdhry ● Jan 23, 2022
  • The shares of Atlassian Corporation PLC (NASDAQ: TEAM) have received a price target of $325 from Cowen. These are the details.

The shares of Atlassian Corporation PLC (NASDAQ: TEAM) have received a price target of $325 from Cowen. And Cowen analyst Derrick Wood adjusted the price target from $380 while maintaining a “Market Perform” rating on the shares.

Wood had previewed the second-quarter results and is expecting a good quarter. But Wood cautioned that tough comps like ahead. Plus Wood said that sales against a mid-20% two-year growth outlook make valuations still look richer.

“We expect good upside & for guide to be modestly above Street, but we expect growth to move from >30% in 1H to ~20% growth in 2H as TEAM laps its substantial pull-forward benefits,” wrote Wood in a research report.

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