Atlassian initiated with an Overweight at Wells Fargo

Wells Fargo initiated coverage of Atlassian (TEAM) with an Overweight rating and $216 price target The company’s position in the enterprise stack “provides them an opportunity to serve as the orchestration center,” says the analyst, who likes Atlassian’s strong pricing, under penetrated upsell and cross-sell opportunity, cloud migrations, and its AI platform opportunity.