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5 days ago
Wall Street analysts rerated Atlassian Corp (NASDAQ:TEAM) and raised their price targets on the stock after its upbeat quarterly print Thursday.
- JMP Securities analyst Patrick Walravens reiterated Atlassian with a Market Perform.
- Raymond James analyst Adam Tindle maintained Atlassian with an Outperform and raised the price target from $250 to $330.
- Truist Securities analyst Joel Fishbein reiterated Atlassian with a Buy and raised the price target from $300 to $350.
- Keybanc analyst Jason Celino maintained Atlassian with an Overweight and raised the price target from $315 to $365.
- Cantor Fitzgerald analyst Thomas Blakey reiterated Atlassian with a Neutral and raised the price target from $264 to $304.
- Scotiabank analyst Nick Altmann maintained Atlassian with a Sector Perform and raised the price target from $250 to $330.
JMP Securities: Walravens rerated Atlassian after it reported better-than-expected fiscal second-quarter 2025 results. The company posted adjusted EPS of $0.96 (consensus $0.76) on total revenue of $1.286 billion (consensus $1.240 billion), reflecting 21% year-over-year growth, flat with last quarter.
Cloud revenue reached $847 million, up 30% year-over-year, well ahead of guidance of 25.5%. This marked a slight decline from 31% last quarter but exceeded the consensus estimate of 26%.
Data Center revenue totaled $362 million, increasing 32% year-over-year, down from 38% last quarter but surpassing the consensus of 28%.
Billings came in ahead of expectations at $1.470 billion (consensus $1.378 billion), representing 21% year-over-year growth.
Walravens projected third-quarter revenue of $1.35 billion and EPS of 88 cents.
Raymond James: Tindle rerated after Atlassian’s quarterly results that featured a continuation of elite Cloud growth at scale, and guidance above the analyst’s buy-side bogeys suggests durability.
The analyst’s recent upgrade was predicated on a combination of macro indicators with a detailed NRR build that suggested Cloud growth could ultimately end closer to mid/high 20% than the initial low-20% guidance, which is materializing.
An incremental focus on Enterprise customers ...
