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TEAM

Atlassian

$111.23

-2.02 (-1.78%)

07:44
04/18/19
04/18
07:44
04/18/19
07:44

Atlassian billings slowdown should make investors reassess, says Morgan Stanley

Morgan Stanley analyst Keith Weiss said he believes that Atlassian "truly is a great company" and "it's hard to be Underweight great companies," but leading into the company's earnings report he thought expectations appeared too high and coming out of the report he thinks the company's sharp deceleration in Q3 billings growth "likely forces investors to reassess the durable growth rate at Atlassian." Billings growth fell sharply to 31% year-over-year in Q3, noted Weiss, who sees "low thirties" as a more durable growth rate for Atlassian. He'd look to get more constructive if multiples better align to the trajectories of Atlassian's durable growth and margin expansion, said the analyst, who maintains an Underweight rating on the stock and raised his price target to $99 from $97.

  • 05

    Jun

TEAM Atlassian
$111.23

-2.02 (-1.78%)

04/12/19
JEFF
04/12/19
NO CHANGE
Target $105
JEFF
Hold
Atlassian price target raised to $105 from $90 at Jefferies
Jefferies analyst John DiFucci raised his price target for Atlassian to $105 from $90 and keeps a Hold rating on the shares after attending the company's analyst day. The analyst continues to believe in the long-term opportunity of Atlassian but views the shares as richly valued at current levels.
04/12/19
ADAM
04/12/19
NO CHANGE
Target $125
ADAM
Buy
Atlassian price target raised to $125 at Canaccord after analyst day
Canaccord analyst Richard Davis said after attending Atlassian's analyst day meeting that he believes the stock should be a core holding "in just about any portfolio," stating that data points collected during the company's Summit event "augment, and disproportionately support our favorable view on this company's fundamental outlook." Despite worries about valuation, he sees a reasonable case that the stock could double in 4-5 years, said Davis, who raised his price target on Atlassian to $125 from $105 and keeps a Buy rating on the shares.
04/18/19
JEFF
04/18/19
NO CHANGE
Target $105
JEFF
Hold
Atlassian reported 'decent' Q3 results, says Jefferies
Atlassian reported "decent" fiscal Q3 results that reflected a greater pull forward of business to Q2 due to an imminent price increase than reflected in consensus billings expectations, Jefferies analyst John DiFucci tells investors in a research note. The analyst, while still viewing Atlassian as a "unique asset with very substantial opportunity," keeps a Hold rating on the shares with a $105 price target citing a "rich" valuation.
04/18/19
MZHO
04/18/19
NO CHANGE
Target $125
MZHO
Buy
Mizuho still comfortable buying Atlassian shares despite billings miss
Although Atlassian's fiscal Q3 revenue and earnings upside "was solid," billings were below consensus, Mizuho analyst Gregg Moskowitz tells investors in a post-earnings research note. However, his work indicates a "high likelihood" that this is solely a function of a greater than expected pull forward impact in fiscal Q2. Normalizing for this, the analyst estimates "very healthy" fiscal Q3 billings growth in the high 30% range. Moskowitz remains buying the shares, "especially on any significant weakness." He keeps a Buy rating on Atlassian with a $125 price target.

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