Truist Financial Lowers PT on Atlassian from $275 to $230, Keeps Buy Rating

Atlassian Corporation (NASDAQ:TEAM) is one of the 10 Best AI Software Stocks to Buy Now. On August 8, Truist Financial lowered the price target on Atlassian Corporation (NASDAQ:TEAM) from $275 to $230, keeping its Buy rating on the stock.

Joel Fishbein from Truist Financial downgraded the price target on TEAM despite achieving upside to the analyst’s top and bottom-line estimates during Q4 FY2025. The company posted revenue of $1.38 billion during Q4, exceeding estimates of $1.36 billion and growing 22.3% year-over-year. The increase in revenue was driven by improvements in Atlassian’s enterprise sales motion, which fueled platform deal momentum.

Fishbein has lowered the price target while retaining his rating on TEAM as he sees FY2026 guidance to face similar prudence around macro and execution risk similar to FY2025 guidance. Atlassian expects the total revenue to be in the range of $1.39 billion to $1.40 billion during Q1 FY2026. For the full year 2026, the company anticipates its total revenue to grow around 18% compared to a total revenue of $5.20 billion recorded in FY2025. The cloud and data center revenue growth are expected to be around 21% and 12.5% year-over-year, respectively.

Atlassian Corporation (NASDAQ:TEAM) is a global software company that is integrating AI across its network and assisting companies with AI-powered collaborative software for teamwork.

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Disclosure: None. This article is originally published at Insider Monkey.