Atlassian Surpasses Analyst Target: What’s Next for Investors?
In recent trading, shares of Atlassian Corp (Symbol: TEAM) have crossed above the average analyst 12-month target price of $248.59, changing hands for $252.78 per share. When a stock meets its analyst-set target, the analyst generally has two options: downgrade on valuation or adjust the target price upward. The reaction may also be influenced by the underlying business developments driving the stock price higher. If the outlook is promising for the company, a target price increase could be warranted.
There are 22 different analyst targets within the Zacks coverage universe contributing to the average estimate for Atlassian Corp. This average is simply a mathematical mean. Some analysts offer lower targets, with one expecting a price of $200.00, while on the other end, another analyst targets as high as $300.00. The standard deviation across these estimates is $26.05.
The purpose of examining the average TEAM price target is to capture a “wisdom of crowds” approach, combining insights from multiple analysts rather than relying on a single opinion. With TEAM trading above the average target price of $248.59 per share, investors now face a critical question: is $248.59 just a stepping stone toward an even higher target, or has the stock hit a peak, suggesting it’s time to consider selling some shares? Below is a table presenting the current analyst perspectives on Atlassian Corp:
| Recent TEAM Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong buy ratings: | 15 | 14 | 14 | 14 |
| Buy ratings: | 1 | 1 | 0 | 0 |
| Hold ratings: | 8 | 9 | 10 | 10 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 1.71 | 1.79 | 1.83 | 1.83 |
The average rating in the table above ranges from 1 to 5, where 1 represents Strong Buy and 5 signifies Strong Sell. Data for this article was supplied by Zacks Investment Research via Quandl.com. Get the latest Zacks research report on TEAM — FREE.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
