Atlassian raised data center prices more than last year, says Barclays

Barclays analyst Ryan MacWilliams says Atlassian (TEAM) is increasing data center list prices and Jira advantaged data center pricing effective February 11. This price increase of 24% on Jira, 29% on Confluence, and 23% on JSM to Atlassian’s data center offerings are higher than the 5%-15% price increases last year, the analyst tells investors in a research note. Barclays points out Atlassian also increased its Jira Data Center Advantaged Plan pricing by 34% on average versus 25% last year. The price increases were stronger than last year, which could help spur cloud migrations as list prices are becoming more comparable, contends the firm. It has an Overweight rating on Atlassian with a $275 price target