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Atlassian Snaps Up Halp For Slack-First Ticketing

support@smarteranalyst.com (Ben Mahaney)

Enterprise software stock Atlassian (TEAM) has announced that it is acquiring Halp, a provider of a conversational ticketing solution that enables users to create help tickets directly from messaging tools like Slack and Microsoft Teams.

Financial terms of the deal were not disclosed.

Halp started building on top of the Slack platform in 2017 and honed in on the opportunity to rethink help desk ticketing in a message-based world. It then integrated with TEAM’s Jira Service Desk and Zendesk so that organizations could get up in running in minutes without having to change infrastructure.

“Although we anticipate the revenue impact to be de minimis (given its seed-stage funding), we believe the acquisition helps further the feature/functions of TEAM’s Jira Service Desk” comments Needham analyst Jack Andrews.

He believes customers have acquired a plethora of SaaS solutions and are now looking for methods to integrate an array of tools to deliver a more seamless experience (i.e. customers of Halp can publish tickets to Jira Service Desk without leaving Slack).

Andrews has a hold rating on Atlassian, explaining: “Despite our positive view on TEAM’s fundamentals and what appears to be a significant market opportunity runway for its solutions, we maintain our valuation-based HOLD rating.”

Indeed, TEAM stock has rallied over 46% on a year-to-date basis. And as a result, the stock’s average analyst price target of $164 indicates 6% downside potential from the current share price.

However its Strong Buy analyst consensus remains, with 7 recent buy ratings vs 2 hold ratings. (See TEAM’s stock analysis on TipRanks).

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