Analysts Just Turned Bullish on These 5 Stocks

1. Atlassian Corporation Plc (NASDAQ:TEAM)

Number of Hedge Fund Holders: 65

Goldman Sachs upgraded Atlassian Corporation Plc (NASDAQ:TEAM) from “Neutral” to “Buy” on Monday, June 27, 2022. The research firm thinks that Atlassian is ready to benefit from the rising demand for its DevOp solutions.

Goldman Sachs analyst Kash Rangan thinks that Atlassian Corporation Plc (NASDAQ:TEAM) has reached a critical point in its cloud transition. Rangan also raised his price target for Atlassian Corporation Plc (NASDAQ:TEAM) from $279 per share to $300 per share.

Earlier this year, investment management firm ClearBridge Investments mentioned Atlassian Corporation Plc (NASDAQ:TEAM) in its first-quarter 2021 investor letter, stating:

“The structural bucket has the shortest investment horizon across the spectrum of growth companies we target in the Strategy. We closely monitor the macro impacts and turnaround progress of these companies and will be disciplined sellers when the thesis for a holding plays out. We also trimmed back workflow software maker Atlassian (NASDAQ:TEAM) after a strong runup in its shares in 2021. Most of our reductions in emerging growth have involved IT or related companies where innovation is a key to their business model. That said, we remain positive on the IT sector and have largely maintained holdings in our highest-conviction ideas.”

You can also take a peek at 10 Best Recession Stocks to Buy According to Wells Fargo and 6 Defensive Stocks to Buy in 2022 According to Seth Klarman.

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