Atlassian Corporation (TEAM) Announced Price Increases as of October - William Blair

William Blair analyst Bhavan Suri reiterated an Outperform rating on Atlassian Corporation (NASDAQ: TEAM) after learning that on September 3rd, the company started notifying customers
that it was increasing pricing on its cloud, server, and data center products effective October
3rd. The company’s three larger products (Jira Software, Confluence, and Jira Service Desk)
all saw price increases across all hosting environments. Larger customers generally saw a
greater price increase than smaller customers (cloud customers with less than 100 users saw
no increase) as Atlassian looked to reduce the impact of volume discounts.

The analyst stated "As a result of the October 3 effective date, we would expect billings pull-forward to play out mostly in the September quarter with some impact in the December quarter as well. Note that the pull-forward generally draws from future periods, in this case that would be the second half of the fiscal year". "According to management, the price increases have already been incorporated into fiscal 2020 guidance".

For an analyst ratings summary and ratings history on Atlassian Corporation click here. For more ratings news on Atlassian Corporation click here.

Shares of Atlassian Corporation closed at $125.51 yesterday.

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