Atlassian significantly raised prices yesterday, says Mizuho

tlassian announced yesterday additional price increases relating to renewals of its flagship on-premise products across server and data center, Mizuho analyst Gregg Moskowitz tells investors in a research note. The analyst estimates the blended impact is a significant high-teens price increase. Given a highly uncertain and challenging macro environment, this was not widely expected by the Street, and the magnitude of the price increases was also better than Mizuho’s expectations, says the analyst. He reiterates Atlassian as a top pick for 2023 and reiterates a Buy rating on the shares with a $255 price target.