Atlassian To Benefit From The 'Next Wave Of Cloud Growth', Says Bullish Analyst
Portfolio Pulse from Priya Nigam
Atlassian Corp (NASDAQ:TEAM) is expected to benefit from the next wave of cloud growth driven by enterprise customers, according to Piper Sandler analyst Rob Owens. Owens upgraded Atlassian's rating from Neutral to Overweight and raised the price target from $200 to $225, citing the potential for durable growth and significant cross-sell opportunities.
July 02, 2024 | 3:15 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Piper Sandler analyst Rob Owens upgraded Atlassian from Neutral to Overweight, raising the price target to $225. The upgrade is based on expected growth from enterprise cloud migrations and new product innovations.
The upgrade from Neutral to Overweight and the increased price target from $200 to $225 by a reputable analyst is a strong positive signal. The focus on enterprise cloud migrations and new product innovations suggests potential for significant revenue growth.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100