Wall Street Bullish on Atlassian’s Cloud Shift, Sees 118% Upside
Analysts unanimously agree Atlassian (TEAM) is undervalued, with one price target suggesting 118% upside. The enterprise software firm's cloud transition strategy is driving optimism.
Atlassian's decision to sunset on-premise installations in favor of cloud subscriptions by March 2025 marks a pivotal shift. Over 300,000 customers currently use its collaboration tools, from individuals to Fortune 500 enterprises.
Morgan Stanley's Keith Weiss maintains a $320 price target, citing recurring revenue potential from the forced migration. The market appears to be discounting Atlassian's ability to convert its entrenched user base into higher-margin cloud subscribers.