Atlassian price target raised to $300 from $250 at Wells Fargo

Wells Fargo raised the firm’s price target on Atlassian (TEAM) to $300 from $250 and keeps an Overweight rating on the shares. Altassian saw a bigger than usual beat in Q1 given additional prudence in guidance and improving trends, the analyst tells investors in a research note. The firm thinks We think results likely help instill confidence in the rest of the year setup and a path to a 3-year 20%+ compound annual growth rate, which could help shares extend the recent run, the analyst tells investors in a research note.