Atlassian (TEAM) Stock Given $300 Price Target From Wells Fargo

By Amit Chowdhry ● May 21, 2022
  • The shares of Atlassian Corporation (NASDAQ: TEAM) have received a $300 price target from Wells Fargo. These are the details.

The shares of Atlassian Corporation (NASDAQ: TEAM) have received a $300 price target from Wells Fargo. And Wells Fargo analyst Michael Turrin maintains an “Overweight” rating on the shares.

Turrin adjusted the rating based on multiple compression across the software industry. The rating was adjusted following Atlassian’s third-quarter results late last month.

Atlassian had reported a Q3 EPS of $0.47, which was $0.15 higher than analyst estimates of $0.32. And the revenue for the quarter was $740 million compared to the consensus estimate of $700.72 million.

In terms of guidance, Atlassian expects a Q4 2022 EPS of $0.24, compared to the consensus of $0.30. And Atlassian expects a Q4 2022 revenue of between $710 million and $725 million, compared to the consensus of $710 million.

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