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

Group 1 - Atlassian Corporation (NASDAQ:TEAM) is being closely monitored by analysts as a notable AI stock, with BTIG analyst Allan Verkhovski maintaining a "Buy" rating and a price target of $220.00 [1] - The company has announced a 15% increase in list pricing for existing Data Center subscriptions for Jira, Confluence, and Jira Service Management, effective February 17, 2026 [2] - This price increase is significantly lower than the 25% hike from the previous year, attributed to Atlassian's plan to phase out its Data Center deployment by March 28, 2029, and transition customers to Cloud services through the Ascend program [3] Group 2 - Positive customer feedback on the Ascend program has led to higher-than-expected migrations, prompting Atlassian to raise its FY26 Cloud revenue growth outlook to reflect a mid-to-high single-digit contribution from these migrations, up from a prior mid-single-digit expectation [4] - The smaller price increase for Data Center subscriptions indicates successful traction among customers migrating to Cloud, reducing the necessity for aggressive pricing strategies [4]