Wells Fargo Maintains Overweight Rating for Atlassian: Here's What You Need To Know

Wells Fargo has decided to maintain its Overweight rating of Atlassian TEAM and lower its price target from $250.00 to $200.00.

Shares of Atlassian are trading up 1.37% over the last 24 hours, at $121.62 per share.

A move to $200.00 would account for a 64.45% increase from the current share price.

About Atlassian

Atlassian produces software that helps teams work together more efficiently and effectively. The company provides project planning and management software, collaboration tools, and IT help desk solutions. The company operates in four segments: subscriptions (term licenses and cloud agreements), maintenance (annual maintenance contracts that provide support and periodic updates and are generally attached to perpetual license sales), perpetual license (upfront sale for indefinite usage of the software), and other (training, strategic consulting, and revenue from the Atlassian Marketplace app store). Atlassian was founded in 2002 and is headquartered in Sydney.

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Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.