KeyBanc raised the firm’s price target on Atlassian (TEAM) to $365 from $315 and keeps an Overweight rating on the shares. The firm notes Atlassian reported another strong quarter of Cloud and DC outperformance, driven by continued stabilization in SMB and paid seat expansions, solid enterprise execution, and migration activity. Importantly, the magnitude of the 2025 Cloud guidance raise to 26.5% was most impressive, KeyBanc adds.
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