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

Atlassian Analyst Sees It Driving Better Cloud Adoption, Monetization; Maintains As Top Pick
  • Mizuho analyst Gregg Moskowitz reiterated a Buy on Atlassian Corporation Plc 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.

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