In a report released today, Derrick Wood from TD Cowen maintained a Hold rating on Atlassian (TEAM – Research Report), with a price target of $320.00.
Derrick Wood has given his Hold rating due to a combination of factors observed during the TEAM’s Team ’25 Conference & Analyst Session. The discussions with partners revealed a cautiously optimistic outlook, highlighting positive aspects such as competitive trends, pricing benefits, and strong demand for Loom. However, concerns were raised regarding IT budget constraints, changes in the partner ecosystem, and the slow adoption of AI technologies.
Management’s strategy to offer Rovo for free as part of a bundle aims to lower adoption barriers and encourage broader use, which could potentially enhance monetization through usage quotas. Additionally, the introduction of the Teamwork Collection at a competitive price point is seen as a way to drive more extensive deployments. Despite these strategic moves, the mixed feedback from partners and the current market conditions contribute to the Hold rating, reflecting a balanced view of potential opportunities and challenges.
In another report released on April 1, UBS also maintained a Hold rating on the stock with a $230.00 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.