Bernstein analyst Peter Weed has maintained their bullish stance on TEAM stock, giving a Buy rating on September 19.
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Peter Weed has given his Buy rating due to a combination of factors related to Atlassian’s strategic decisions and financial outlook. The company’s recent announcement to phase out its Data Center offering by 2029, with no new customers from 2026 and ending license sales by 2028, is a significant move. This transition is expected to push most customers towards their Cloud services, potentially increasing revenue through upfront term license allocations, which will positively impact their FY26 financials.
Moreover, while there are concerns about churn and the impact of migrating customers, the analysis suggests that these changes will likely lead to accelerated cloud migrations, helping to maintain a strong growth trajectory. The anticipated muted churn and potential for increased customer up-selling post-migration are seen as positive indicators. Overall, the balance of potential benefits and risks leads to an expectation of a neutral to positive impact on revenue, supporting the Buy rating with a maintained price target of $296.
In another report released on September 19, Barclays also maintained a Buy rating on the stock with a $215.00 price target.
Based on the recent corporate insider activity of 551 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TEAM in relation to earlier this year.