Keith Weiss, an analyst from Morgan Stanley, maintained the Buy rating on Atlassian (TEAM – Research Report). The associated price target remains the same with $370.00.
Keith Weiss has given his Buy rating due to a combination of factors that highlight Atlassian’s strong potential for growth and innovation. The company’s recent event showcased its rapid pace of product development, particularly with the integration of Rovo into its core solutions like Jira, Confluence, and JSM. This strategic move is expected to enhance adoption and usage, positioning Atlassian well for long-term opportunities in the agentic space.
Additionally, Atlassian’s introduction of new cloud deployment methods, service management products, and simplified bundles has been met with enthusiasm from customers and partners. The company’s evolving strategy to penetrate enterprise markets, coupled with a focus on expanding its partner ecosystem, further supports the positive outlook. Despite potential concerns about adoption challenges and margin pressures, the overall customer demand and excitement around Atlassian’s offerings underscore its robust growth trajectory.
In another report released today, Jefferies also maintained a Buy rating on the stock with a $262.00 price target.
Based on the recent corporate insider activity of 556 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TEAM in relation to earlier this year.