Atlassian price target raised to $325 from $270 at Bernstein

Bernstein raised the firm’s price target on Atlassian (TEAM) to $325 from $270 and keeps an Outperform rating on the shares. The firm says Atlassian’s Q2 earnings “went off with a bang,” delivering strong results top to bottom. On the top line, revenue growth beat guidance by 4%, the largest margin since early 2022. This top line beat didn’t even benefit from their new product releases or recent pricing increases, Bernstein adds.