On Nov 01, major Wall Street analysts update their ratings for $Atlassian (TEAM.US)$, with price targets ranging from $200 to $300.
Wells Fargo analyst Michael Turrin maintains with a buy rating, and adjusts the target price from $250 to $300.
Jefferies analyst Brent Thill maintains with a buy rating, and adjusts the target price from $240 to $280.
TD Cowen analyst Derrick Wood maintains with a hold rating, and adjusts the target price from $180 to $220.
BMO Capital analyst Keith Bachman maintains with a hold rating, and adjusts the target price from $177 to $255.
Mizuho Securities analyst Gregg Moskowitz maintains with a buy rating.
Furthermore, according to the comprehensive report, the opinions of $Atlassian (TEAM.US)$'s main analysts recently are as follows:
Atlassian's strong performance in the September quarter was propelled by a widespread surge and Cloud growth that surpassed expectations. The company experienced a significant increase in seats across all products, robust deal activity, and favorable customer reactions to Loom and Rovo. Despite macroeconomic challenges, the quarter was deemed impressive. Looking ahead, there's optimism about the new CRO's potential impact on sales and the enhancement of enterprise cross-selling efforts.
Atlassian experienced a significant outperformance in Q1, surpassing expectations to a greater extent than usual due to conservative guidance and positive trends. It's believed that these results will bolster confidence in the outlook for the remainder of the year and support a trajectory towards a three-year compound annual growth rate of over 20%, potentially contributing to the extension of the stock's recent upward trend.
The company reported robust results and has updated its full-year guidance accordingly.
The strong top-line outperformance and raised guidance for Cloud growth by FY25 were key highlights in the recent performance review. The first quarter experienced the most significant Cloud outperformance in comparison to forecasts since the initiation of such guidance, accompanied by data center performance that also exceeded expectations.
Following Atlassian's 'strong' financial results for the first fiscal quarter, analysts have gained confidence that the company's guidance will likely enable a more predictable pattern of outperforming estimates and raising future projections. The company has demonstrated stable growth in paid seats over the last two quarters, and this, along with a cautious guidance approach that anticipates a challenging economic climate, sets a positive stage for the company's shares. Additionally, indicators from recent surveys suggest a cautious optimism for IT budget growth by 2025, which could be a harbinger of accelerated growth for Atlassian in the years following fiscal 2025.
Here are the latest investment ratings and price targets for $Atlassian (TEAM.US)$ from 14 analysts:
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
