Wells Fargo Raises Atlassian (TEAM) Price Target to $230

Wells Fargo continues to favor Atlassian, raising its price target to $230 following strong performance indicators, a 12.19% upside from the current price.

By EarningsIQ Research Desk · Published Oct 15, 2026, 9:18 PM EDT · Updated Oct 16, 2026, 2:07 PM EDT

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Wells Fargo raised its price target on Atlassian Corporation ($TEAM) to $230 from $180 on October 14, 2026, and rates the stock "Overweight".

Since the rating, $TEAM is up 1.5% to date (from the $204.66 close on Oct 14, 2026).

TEAM Atlassian Corporation

$207.82 +34.29% year to date

Daily close · Oct 16, 2026

Key Points

Wells Fargo has reiterated its Overweight rating on Atlassian Corporation, increasing the price target from $180 to $230 as of October 14, 2026.
Wells Fargo's $230 price target implies 12.19% upside from Atlassian Corporation's ($TEAM) current $205 share price.
Atlassian's stock recently traded at $205, which is about 3.3% below the mean analyst target of $212.
The company is set to report earnings on November 5, 2026, following a year-over-year revenue growth of 27.6%.

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Wells Fargo has reiterated its Overweight rating on Atlassian Corporation (NasdaqGS: TEAM) and raised its price target from $180 to $230. This change was announced on October 14, 2026. The firm sees strong potential in Atlassian's business model, particularly its collaboration software that supports productivity across teams.

Analyst rating track record

Wells Fargo vs. the S&P 500

YTD return -2.53% hypothetical

All-time return -2.53% S&P 500 +0.47%

vs. S&P 500 -3% behind the index

Hypothetical returns from Wells Fargo's disclosed trades, not real profit or advice. How we model this.

Other Institutional Activity in Atlassian

Several other institutional investors have also shown interest in Atlassian. Blackrock Inc. increased its holdings by 1,204,004 shares, bringing its total to 12,747,664 shares worth about $2.65 billion. DnB Asset Management AS added 1,752,898 shares, resulting in a total of 9,830,768 shares valued at approximately $2.04 billion. AQR Capital Management, LLC saw a significant increase of 4,672,944 shares, totaling 8,822,984 shares worth around $1.83 billion.

Atlassian Corporation Stock Up 0.2%

Atlassian's shares are currently trading at $205, which is above the 200-day moving average by about 79.9%. However, this level is about 5.6% below its 52-week high of $217.17. The stock is also 10.9% below the new analyst target of $230.

12-month forecast

$TEAM price target

Atlassian Corporation daily closes and this analyst's $230 target. Not advice.

Recent Earnings

Atlassian reported trailing twelve-month revenue of approximately $6.57 billion, with a year-over-year revenue growth of 27.6%. However, the company has a negative net margin of 0.8% and a return on equity of -4.5%. The next earnings report is scheduled for November 5, 2026.

Insider Buying and Selling at Atlassian Corporation

Recent insider transactions include Brian Duffy, an officer, who sold 1,851 shares on August 19, 2026, valued at about $319,204. Chief Financial Officer James Chuong sold 9,054 shares on the same day for approximately $1.56 million. Gene Liu also sold shares on two occasions, with one transaction occurring on August 28, 2026, where he sold 939 shares at an average price of $190, totaling around $178,410, and another sale on October 12, 2026, where he sold 337 shares at an average price of $210, valued at about $70,770.

Analysts Set New Price Targets

On October 14, 2026, Wells Fargo maintained its Overweight rating on Atlassian with a new price target of $230, up from $180. Other analysts have also been bullish, with Cantor Fitzgerald maintaining a price target of $220 and Baird setting a target of $245. The consensus among 31 analysts suggests a mean price target of $212.

About Atlassian

Atlassian Corporation, based in Sydney, NSW, specializes in collaboration software that connects teams and enhances productivity. Its product lineup includes popular tools like Jira, Confluence, and Trello, which are widely used across various sectors to streamline workflows and improve team collaboration.

Bottom Line

Investors should keep an eye on Atlassian's upcoming earnings report on November 5, 2026. The recent price target adjustments from Wells Fargo and other analysts could reflect growing confidence in the company's future performance.