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Atlassian Analyst Sees It Driving Better Cloud Adoption, Monetization; Maintains As Top Pick

  • Mizuho analyst Gregg Moskowitz reiterated a Buy on Atlassian Corporation Plc (NASDAQ: TEAM) and a $360 price target with the company remaining a top pick.

  • He attended TEAM's inaugural work management event in SF, called Work Life.

  • Work management represents a growing source of investment for TEAM. At the event, management emphasized a high degree of integration and collaboration among the four products contained within this group.

  • Management also announced Atlassian Together, a new suite of work management products that he believes would typically translate to a significant price uplift for customers that adopt it.

  • He remains confident that TEAM can benefit from its strategic actions, which should drive much better cloud adoption and overall monetization in FY23 and beyond.

  • Price Action: TEAM shares traded higher by 1.18% at $214.84 on the last check Friday.

Latest Ratings for TEAM

Date

Firm

Action

From

To

Jan 2022

Cowen & Co.

Maintains

Market Perform

Jan 2022

Cowen & Co.

Maintains

Market Perform

Dec 2021

Goldman Sachs

Initiates Coverage On

Neutral

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