Atlassian Still 'Positive'Longer Term, Oppenheimer Says
Idag, 18:15
12:15 PM EDT, 05/11/2026 (MT Newswires) -- Atlassian (TEAM) is positioned to benefit from enterprise adoption of AI-powered workflow tools, though declines in data center revenue growth will weigh near-term, Oppenheimer said in a Monday note.
The note pointed to the firm's negative data center growth outlook in fiscal 2027 before reacceleration in the following year.
"We're adjusting our estimates and believe FY27/FY28 consensus DC projections (-4.9%/-7.0%) aren't declining steeply enough
(we model -15.0%/-20.9%),"the report said.
"We remain positive longer term, though would wait for quantified FY27 to get aggressive again,"it added.
The report also noted positively-biased spending intentions from customers and its critical partner status.
Oppenheimer maintained its outperform rating on the stock and raised its price target to $110 from $100.
Price: 87.06, Change: -4.54, Percent Change: -4.96
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Atlassian Still 'Positive'Longer Term, Oppenheimer Says
Idag, 18:15
12:15 PM EDT, 05/11/2026 (MT Newswires) -- Atlassian (TEAM) is positioned to benefit from enterprise adoption of AI-powered workflow tools, though declines in data center revenue growth will weigh near-term, Oppenheimer said in a Monday note.
The note pointed to the firm's negative data center growth outlook in fiscal 2027 before reacceleration in the following year.
"We're adjusting our estimates and believe FY27/FY28 consensus DC projections (-4.9%/-7.0%) aren't declining steeply enough
(we model -15.0%/-20.9%),"the report said.
"We remain positive longer term, though would wait for quantified FY27 to get aggressive again,"it added.
The report also noted positively-biased spending intentions from customers and its critical partner status.
Oppenheimer maintained its outperform rating on the stock and raised its price target to $110 from $100.
Price: 87.06, Change: -4.54, Percent Change: -4.96
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