On Nov 02, major Wall Street analysts update their ratings for $Atlassian (TEAM.US)$, with price targets ranging from $200 to $300.
Morgan Stanley analyst Keith Weiss maintains with a buy rating, and adjusts the target price from $224 to $259.
Goldman Sachs analyst Kash Rangan maintains with a buy rating, and adjusts the target price from $230 to $245.
Citi analyst Fatima Boolani maintains with a buy rating, and adjusts the target price from $245 to $255.
Wells Fargo analyst Michael Turrin maintains with a buy rating, and maintains the target price at $300.
Jefferies analyst Brent Thill maintains with a buy rating, and adjusts the target price from $240 to $280.
Furthermore, according to the comprehensive report, the opinions of $Atlassian (TEAM.US)$'s main analysts recently are as follows:
Atlassian's fiscal Q1 results surpassed expectations, a marked improvement over its recent quarter performances. The company's multi-year growth outlook appears more promising than commonly anticipated, which encompasses the potential for pricing leverage and a period of substantial migrations from Data Center to Cloud.
Atlassian's September quarter results were impressive, underscored by a widespread upturn and surpassing anticipated Cloud growth. The company experienced stronger than foreseen expansion in user seats across all products, a robust pipeline of deals, and notable customer engagement with Loom and Rovo. Despite challenging economic conditions, the performance in the quarter was remarkable. While the outlook for FY25 is uncertain, the demonstrated execution to date provides a positive outlook, especially with anticipation around new CRO Brian Duffy's impact on sales and increasing enterprise cross-sell efforts.
Atlassian experienced a substantial exceedance of expectations in Q1, attributed to cautious guidance and positive trends. It is suggested that these results may boost confidence in the financial outlook for the remainder of the year, as well as support a trajectory towards a 3-year compound annual growth rate exceeding 20%, potentially contributing to the extension of the stock's recent positive performance.
Atlassian has reported strong results which have been acknowledged and reflected in the updated full-year guidance.
Following a robust top-line outperformance and an increased forecast for FY25 Cloud growth, the company's first quarter experienced the most significant Cloud outperformance compared to guidance since the initiation of such guidance, along with a data center beat, as observed by the analyst.
Here are the latest investment ratings and price targets for $Atlassian (TEAM.US)$ from 15 analysts:
Note:
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