Why KeyBanc Lowered Its Price Target on Atlassian Corporation (TEAM)

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Atlassian Corporation (NASDAQ: TEAM ) is among the undervalued software stocks to buy now . On July 8, KeyBanc trimmed the price target on Atlassian Corporation (NASDAQ:TEAM) to $115 from $130 and reiterated an Overweight rating. The firm has updated its model to better reflect the views of investors, management, and partners.

The firm lowered its Cloud estimates for FY27, particularly due to softer migration and organic growth assumptions, despite higher data center projections. Overall, KeyBanc anticipates conservative FY27 guidance from management, while viewing this as a clearing event that enhances visibility of near-term trends.

Back on June 25, BMO Capital cut the price target on Atlassian Corporation (NASDAQ:TEAM) to $95 from $105 after readjusting its model. The firm has lowered its data center revenue forecasts for FY27 to negative 22% growth, down from negative 12%. Additionally, the firm reduced its operating margin and free cash flow estimate.

In its analysis, the firm also highlighted the company's strong product offering and solid distribution and pricing strategies, adding that the stock's current valuation offers an appealing risk/reward profile. The firm has an Outperform rating. Indeed, Atlassian Corporation (NASDAQ:TEAM) is one of the undervalued software stocks to buy now.

Atlassian Corporation (NASDAQ:TEAM) is an Australian provider of software that facilitates team collaboration. Founded in 2002, the company offers a project management platform, a connected workspace, an asynchronous video communication tool, an intuitive service management solution, and other AI-related tools.

While we acknowledge the potential of TEAM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock .

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Sinergia Empresarial continuará el seguimiento de esta información sobre why KeyBanc Lowered Its Price Target on Atlassian Corporation (TEAM) y ampliará la cobertura conforme se confirmen nuevos elementos relevantes para el ecosistema empresarial.