Atlassian Corp (TEAM) shares closed down 2.43% at $84.38 on February 13, extending a monthly decline as the company faces pressure from a new share offering and its strategic pivot toward AI. Analysts have notably lowered price targets, reflecting concerns over long-term infrastructure spending versus immediate profitability.
- The company filed a $1.41 billion shelf registration for 14.3 million shares, raising significant concerns regarding shareholder dilution and the execution of its 'Rovo' AI initiative.
- Citigroup analyst Fatima Boolani reduced her price target from $210 to $160, joining Macquarie and Wells Fargo in recalibrating outlooks for the firm.