Oppenheimer Raises Price Goal on Atlassian Corporation (TEAM)

Fatima Gulzar

Tue, May 19, 2026 at 3:54 PM EDT 2 min read

Atlassian Corporation (NASDAQ:TEAM) is among the Best Affordable Stocks.

On May 11, Oppenheimer raised its price target on Atlassian Corporation (NASDAQ:TEAM) to $110 from $100. It retained an “Outperform” rating on the shares. The firm noted the company’s confidence in its strategy and AI-driven platform value.

On April 30, Atlassian Corporation (NASDAQ:TEAM) reported revenue of $1.787 billion, growing by 32% YoY for the third quarter of fiscal 2026. Cloud revenue shot up by 29% to $1.132 billion, the company said. Remaining performance obligations rose 37% to $3.996 billion.

CEO Mike Cannon-Brookes said the company delivered “strong Q3 results,” and noted larger customer commitments and expansion across its AI-powered platform. CFO James Chuong added that cloud growth accelerated as customers increased usage of AI capabilities. The firm also reported a GAAP operating loss of $56.3 million and a net loss of $98.4 million, both widening YoY, including restructuring charges totaling $223.8 million.

On a non-GAAP basis, Atlassian Corporation (NASDAQ:TEAM) posted operating income of $607.2 million and net income of $456.5 million, with margins expanding to 34%.

Atlassian Corporation (NASDAQ:TEAM) is a holding company that provides software for team collaboration and productivity. Its product line includes Jira Software, Confluence, Jira Service Management, and Loom.

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