TLDR
- Atlassian stock hit a 52-week high of $184.22, up nearly 7% on the day
- Q4 EPS came in at $1.87 vs. $1.50 expected; revenue of $1.77B beat estimates of $1.66B
- Cloud revenue grew 31% year-over-year to $1.21B; remaining performance obligations up 44%
- Royal Bank of Canada upgraded the stock to “Moderate Buy”; 25 analysts now rate it a Buy
- 21 analysts have recently revised earnings estimates upward; consensus price target stands at $178.63
Atlassian (TEAM) stock hit a 52-week high of $184.22 on Wednesday, trading around $184.13 with a market cap of $46.45 billion. The stock is up roughly 7% on the day and has surged 124% over the past six months.
The move comes after Atlassian posted a strong fiscal Q4, reporting adjusted EPS of $1.87 against a consensus estimate of $1.50. Revenue hit $1.77 billion, topping forecasts of $1.66 billion and marking 28% year-over-year growth.
Cloud revenue was a standout, growing 31% to $1.21 billion. Remaining performance obligations jumped 44% to $4.8 billion, a figure that points to strong forward demand.
The quarter also marked Atlassian’s first GAAP operating profit in over two years, with a 12% operating margin. That milestone got attention from Wall Street.
Analyst Upgrades Roll In
Royal Bank of Canada upgraded Atlassian to “Moderate Buy” on Tuesday, the latest in a string of positive analyst moves. Truist Financial raised its target from $160 to $185 and kept a Buy rating. Jefferies set a $200 target. BMO Capital Markets bumped its objective from $95 to $175 with an Outperform rating.
Bank of America upgraded the stock to Buy and lifted its target to $175. FBN Securities raised its target to $170 with an Outperform. Robert W. Baird set a $200 target.
Not everyone is bullish. TD Cowen holds a Hold rating with a $145 target, and Zacks downgraded the stock to Hold back in June.
Still, 25 analysts rate TEAM a Buy, four say Hold, and one has a Sell. The consensus target is $178.63.
InvestingPro notes the stock is currently trading below its estimated Fair Value, with 21 analysts revising earnings estimates upward recently.
Institutional Interest Stays Strong
Institutional investors hold 94.45% of the stock. California State Teachers Retirement System increased its stake by over 7,000% in Q2, adding more than 17.5 million units valued at roughly $1.38 billion.
AQR Capital Management lifted its position by 291% in Q4. Morgan Stanley grew its holdings by 52.4% in the same period. Norges Bank took a new position worth approximately $323 million.
On the insider side, CRO Brian Duffy sold 7,617 units on August 14 at $163.00, reducing his stake by 3.35%. CFO James Chuong sold 9,054 units on August 19 at $172.45. Both sales were made to cover tax obligations on vested equity awards.
CEO Mike Cannon-Brookes has backed the company with a personal $250 million purchase plan, a move that has drawn attention from analysts including TD Cowen.
The stock’s 50-day moving average sits at $110.69 and the 200-day at $90.71, both well below current trading levels. Its 52-week low was $56.01.
Stop guessing and start investing with confidence. KnockoutStocks gives you the AI insights, market intelligence, and stock research you need to spot opportunities, cut through the noise, and make smarter investment decisions — all in one powerful platform.
Sign up today and get 50% OFF full access to our premium stock picks.
Simply use coupon code SPECIAL50 at checkout to claim your exclusive discount.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
