DC price increases give Jefferies conviction Atlassian can meet or beat guidance

Jefferies notes Atlassian (TEAM) announced its annual Data Center product price increases today, with hikes of 13%-17% across its product suite. While these are lower than roughly 15%-25% hikes last year, the increases, coupled with the DC end of life announcement in September of last year, lead the firm to believe more will migrate to Cloud and “give us more conviction” that the company can meet or exceed its 21% FY26 revenue growth guidance, says the analyst, who has a Buy rating and $262 price target on the shares.