BTIG Stays Bullish on Atlassian (TEAM) After Data Center Pricing Update

Atlassian Corporation (NASDAQ:TEAM) is one of the AI Stocks Analysts Are Watching Closely. On January 15, BTIG analyst Allan Verkhovski reiterated a “Buy” rating on the stock with a $220.00 price target. The rating affirmation follows Atlassian’s announcement of updated pricing for existing Data Center subscriptions.

Firm analysts highlighted in an investor note how Atlassian updated its new pricing for existing data center subscriptions on list pricing plans. There will be a 15% increase on list and lower tier pricing for Jira, Confluence, and Jira Service Management across all user tiers, effective February 17, 2026.

Analysts noted how this increase is considerably lower than the 25% price hike announced during the same period last year.

Explaining why the company hasn’t increased its DC pricing as much as the previous year, they highlighted how Atlassian announced on September 8, 2025 that it plans to end-of-life its Data Center deployment offering by March 28, 2029. Atlassian is currently transitioning customers to its Cloud services through its Ascend program.

Owing to positive customer response on TEAM’s Ascend program, migrations have contributed more than expected

“Last quarter, TEAM highlighted customer response to Ascend (program that helps customers jumpstart their migration planning) has been incredibly positive, and as such, increased its FY26 Cloud revenue growth outlook to reflect migrations driving a mid-to-high single-digit contribution to Cloud revenue growth, up from the prior expectation of a mid-single-digit contribution. We believe the smaller magnitude of this year’s Data Center price increase reflects positive traction among Data Center customers migrating to Cloud, reducing the need for TEAM to push pricing as aggressively. We had factored in a ~15% pricing increase in our base case, so our estimates are not under review."

Atlassian Corporation (NASDAQ:TEAM) is a global software company that designs, develops, licenses, and maintains various software products worldwide.

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