Atlassian price target lowered to $130 from $135 at BMO Capital

BMO Capital analyst Keith Bachman lowered the firm’s price target on Atlassian (TEAM) to $130 from $135 and keeps an Outperform rating on the shares. The company delivered solid results across many metrics, including seats, and management is modestly raising FY26 targets, net of M&A, the analyst tells investors in a research note. Atlassian will have to continue to post solid results over several quarters into FY27 before the shares move higher, the firm adds.