Cantor Fitzgerald increased its price target for Atlassian Corporation (NASDAQ:TEAM) to $126 from $107. The firm affirmed an 'Overweight' rating on the stock.
This revision reflects growing confidence in the company's durable growth drivers leading into fiscal year 2027.
The firm cites stable partner checks, ongoing enterprise seat expansion, and increasing momentum for its Jira Service Management and Cloud migration products.
Analysts also noted the potential for AI monetization. They highlighted strong underlying fundamentals, including an 85% gross profit margin.
This update comes ahead of Atlassian's fourth-quarter earnings report, scheduled for August 6.