Atlassian price target lowered to $200 from $225 at BMO Capital

BMO Capital analyst Keith Bachman lowered the firm’s price target on Atlassian (TEAM) to $200 from $225 and keeps an Outperform rating on the shares. The company had a solid Q2 and its FY26 guidance was roughly in line with estimates, though given pervasive negative sentiment for software broadly and Atlassian specifically, the firm does not envision investor sentiment changing in the near-term, the analyst tells investors in a research note.