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Why Atlassian Stock Is Going Down Today

TheMotleyFool

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Shares of Atlassian (NASDAQ: TEAM) fell hard on Friday, down 4.3% as of noon ET after the workflow management software company held an investor day on Thursday.

Analysts weren't uniformly impressed with what Atlassian had to say. On the one hand, investment bank Citigroup called the company's prospects "significant" and reiterated its buy rating and $435 price target on the stock. On the other, Piper Sandler lowered its price target (to $384), while Cowen & Co. called the investor day revelations "relatively in line with expectations" -- and maintained a $330 price target and neutral rating on the stock.

Image source: Getty Images.

Source Fool.com

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