In a report issued on January 17, Richard Davis from Canaccord Genuity maintained a Buy rating on Atlassian (TEAM), with a price target of $105. The company’s shares closed on Friday at $90.67.
According to TipRanks.com, Davis is a top 25 analyst with an average return of 40.0% and a 82.8% success rate. Davis covers the Technology sector, focusing on stocks such as Ceridian HCM Holding Inc, Altair Engineering Inc, and Upland Software.
Currently, the analyst consensus on Atlassian is a Moderate Buy with an average price target of $103.40, which is a 14.0% upside from current levels. In a report issued on January 7, Oppenheimer also assigned a Buy rating to the stock with a $95 price target.
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Based on Atlassian’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $45.19 million. In comparison, last year the company had a GAAP net loss of $65.23 million.
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Atlassian Corp. Plc is a holding company, which engages in the design, development, license, and maintainance of software and provision software hosting services. Its products include JIRA software, Confluence, Trello, Bitbucket, Sourcetree, and JIRA Service Desk.
