Atlassian price target raised to $280 from $240 at Jefferies

Jefferies analyst Brent Thill raised the firm’s price target on Atlassian (TEAM) to $280 from $240 and keeps a Buy rating on the shares following a “strong” top-line beat and FY25 Cloud growth guidance raise. Q1 saw the largest Cloud beat relative to guidance since management started guiding to it and data center beat as well, the analyst noted.