Barclays analyst Ryan MacWilliams maintains $Atlassian (TEAM.US)$ with a buy rating, and maintains the target price at $275.
According to TipRanks data, the analyst has a success rate of 60.4% and a total average return of 14.4% over the past year.
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, showing a notable improvement compared to previous quarters. The company's long-term growth potential, including its ability to adjust prices and the anticipated shift from Data Center to Cloud, are viewed as more substantial than commonly perceived.
Atlassian's September quarter results showcased substantial strength, supported by a wider-than-predicted growth in Cloud services. The company observed a remarkable expansion in user base across all products, robust deal activity, and positive customer interactions with products like Loom and Rovo. Even amidst challenging economic conditions, the quarter was impressive. The company's performance so far instills confidence, and there is optimism about the potential impact of the new CRO on sales strategies and the enhancement of enterprise cross-selling efforts.
Atlassian experienced a significant beat in Q1, surpassing expectations due to conservative guidance and improving trends. This performance is believed to bolster confidence in the company's outlook for the rest of the year and support a potential 3-year compound annual growth rate of over 20%, which may contribute to the continuation of the stock's recent positive trajectory.
Note:
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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.
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