BMO Capital Markets Issues Pessimistic Forecast for Atlassian (NASDAQ:TEAM) Stock Price

Key Points

• BMO Capital Markets cut its price target on Atlassian from $130 to $105 but kept an "outperform" rating, which the firm says implies roughly a 53% upside from the stock's current price (~$68.59).
• Several other analysts have trimmed targets (e.g., TD Cowen to $85, Oppenheimer to $100, Wells Fargo to $120) and, despite a mix of ratings, the consensus remains a "Moderate Buy" with a $151.52 price target.
• Atlassian recently beat quarterly revenue and EPS estimates and raised its annual revenue outlook—citing AI product features and stronger enterprise sales—but the stock trades well below its 52‑week high ($242) and insiders have been net sellers.

Atlassian (NASDAQ:TEAM - Get Free Report) had its price objective lowered by equities research analysts at BMO Capital Markets from $130.00 to $105.00 in a research note issued on Friday. The firm presently has an "outperform" rating on the technology company's stock. BMO Capital Markets' price objective would suggest a potential upside of 53.08% from the company's current price.

Other research analysts have also recently issued research reports about the stock. TD Cowen cut their price target on shares of Atlassian from $140.00 to $85.00 and set a "hold" rating for the company in a research note on Thursday, April 16th. Guggenheim set a $115.00 price target on Atlassian in a research note on Thursday, April 9th. Wells Fargo & Company dropped their price objective on Atlassian from $155.00 to $120.00 and set an "overweight" rating for the company in a research note on Tuesday, March 17th. Oppenheimer reduced their target price on shares of Atlassian from $150.00 to $100.00 and set an "outperform" rating on the stock in a research note on Friday, April 17th. Finally, BNP Paribas Exane initiated coverage on shares of Atlassian in a report on Monday, March 16th. They issued an "outperform" rating and a $95.00 target price on the stock. Twenty equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $151.52.

Atlassian Stock Down 2.7%

TEAM opened at $68.59 on Friday. The company has a market capitalization of $18.09 billion, a P/E ratio of -95.26 and a beta of 0.99. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.89 and a quick ratio of 0.89. The firm's fifty day moving average price is $70.97 and its two-hundred day moving average price is $118.12. Atlassian has a fifty-two week low of $56.01 and a fifty-two week high of $242.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Friday, February 6th. The technology company reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.10. Atlassian had a negative net margin of 3.29% and a negative return on equity of 6.33%. The company had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.54 billion. During the same quarter in the prior year, the company posted $0.96 EPS. The business's revenue was up 23.3% on a year-over-year basis. On average, analysts anticipate that Atlassian will post -0.01 EPS for the current year.

Insider Buying and Selling

In related news, CRO Brian Duffy sold 1,222 shares of the company's stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $81.35, for a total transaction of $99,409.70. Following the transaction, the executive owned 124,332 shares in the company, valued at $10,114,408.20. This represents a 0.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott Farquhar sold 7,665 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $94.81, for a total transaction of $726,718.65. Following the sale, the director directly owned 275,940 shares in the company, valued at approximately $26,161,871.40. This represents a 2.70% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 52,003 shares of company stock valued at $5,338,804. Insiders own 36.66% of the company's stock.

Institutional Trading of Atlassian

Several hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. grew its position in shares of Atlassian by 50.7% during the 3rd quarter. SBI Securities Co. Ltd. now owns 40,546 shares of the technology company's stock worth $6,475,000 after buying an additional 13,643 shares during the period. OFI Invest Asset Management boosted its stake in Atlassian by 16.3% in the fourth quarter. OFI Invest Asset Management now owns 254,551 shares of the technology company's stock valued at $41,273,000 after acquiring an additional 35,682 shares during the last quarter. Baillie Gifford & Co. boosted its stake in Atlassian by 3.9% in the fourth quarter. Baillie Gifford & Co. now owns 8,431,802 shares of the technology company's stock valued at $1,367,132,000 after acquiring an additional 316,276 shares during the last quarter. Exane Asset Management grew its holdings in Atlassian by 419.9% during the 4th quarter. Exane Asset Management now owns 31,363 shares of the technology company's stock worth $5,085,000 after acquiring an additional 25,330 shares during the period. Finally, Intech Investment Management LLC raised its position in shares of Atlassian by 180.3% during the 3rd quarter. Intech Investment Management LLC now owns 140,984 shares of the technology company's stock valued at $22,515,000 after acquiring an additional 90,692 shares during the last quarter. 94.45% of the stock is owned by institutional investors.

Key Atlassian News

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Q3 results materially beat expectations — revenue $1.79B (≈+32% YoY) and non-GAAP EPS $1.75, topping Street estimates; management raised its FY revenue growth target (to ~24%), driving the post-earnings rally. Reuters: Atlassian beats quarterly revenue estimates
• Positive Sentiment: Company lifted its annual revenue forecast and highlighted AI-driven features and stronger enterprise sales as growth levers — management is positioning AI and deeper enterprise adoption as the path to sustain margins and revenue. Yahoo: Atlassian lifts annual revenue forecast
• Positive Sentiment: Atlassian Ventures invested in Riffle Resilience and Riffle launched an operational-resilience app on the Atlassian Marketplace — strategic Marketplace ecosystem growth and venture investments support product expansion and AI capabilities integrated into customer workflows. BusinessWire: Riffle launches on Atlassian Marketplace
• Neutral Sentiment: Investors can review the full Q3 commentary and call transcript for color on bookings, cloud migration cadence (including data-center-to-cloud contributions) and margin assumptions. Seeking Alpha: Q3 2026 earnings call transcript
• Neutral Sentiment: Management signaled mid‑to‑high single-digit cloud growth contribution from data-center migrations and noted Rovo usage growth of 20%+ month-over-month — positive product adoption signals but timing of revenue conversion remains incremental. MSN: Cloud growth from data-center migrations
• Negative Sentiment: At least one analyst trimmed TEAM’s price target (reported down ~12.9% to $146.60) immediately before earnings — a reminder of lingering analyst skepticism on valuation and execution despite the beat. MSN: Price target decreased

Atlassian Company Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian's product portfolio centers on tools designed to help teams plan, build and support software and business processes.

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