Tiger Brokers

Atlassian Seen Delivering Solid Fiscal Q3 Results on Cloud Growth, Seat Expansion, Oppenheimer Says

MT Newswires Live
Apr 17

Atlassian (TEAM) is expected to report fiscal Q3 results ahead of consensus, supported by steady seat expansion and increasing data center to cloud migration activity, Oppenheimer said in a Friday note.

The firm said it expects fiscal Q3 revenue to see a 2% upside on management's sales guidance of $1.69 billion to $1.70 billion.

Oppenheimer said its checks point to stable seat expansion, stronger migration activity and continued focus on enterprise engagement.

The firm noted that Street estimates for data center revenue growth in fiscal 2027 have adjusted downwards after management flagged "meaningful deceleration" in its fiscal Q2 earnings commentary.

Oppenheimer maintained its outperform rating on Atlassian and lowered its price target to $100 from $150.

Price: 68.95, Change: +0.22, Percent Change: +0.32

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