Atlassian To Benefit From The 'Next Wave Of Cloud Growth', Says Bullish Analyst
TEAMAtlassian (TEAM) Benzinga·2024-07-02 23:15

Loading... Loading... Shares of Atlassian Corp TEAM were climbing in early trading on Tuesday. Enterprise customers are likely to drive "the next wave of cloud migrations," triggering accelerated cloud growth, according to Piper Sandler. The Analyst: Rob Owens upgraded the rating for Atlassian from Neutral to Overweight, while raising the price target from 200to200 to 225. The Thesis: While currently only 30% of the company's cloud revenues are from enterprise customers, 82% of the remaining data center seats ...