Atlassian price target raised to $250 from $200 at Truist

Truist raised the firm’s price target on Atlassian (TEAM) to $250 from $200 and keeps a Hold rating on the shares as part of a broader research note on Infrastructure Software. The company is looking to pivot their go-to-market model to drive higher customer ACV – annual contract value – and their ability to raise pricing could lead to accelerating growth, the analyst tells investors in a research note. The company has multiple growth drivers including new users, new end markets, new products, and the potential for ACV expansion to sustain long-term growth, the firm added.