Atlassian price target lowered to $315 from $330 at Wells Fargo

Wells Fargo lowered the firm’s price target on Atlassian (TEAM) to $315 from $330 and keeps an Overweight rating on the shares. The firm says that post consistent first half of the year upside, Atlassian’s Q3 results came in a bit tighter on estimates, which it expects will drive questions around growth profile into FY26. Wells sees opportunity on a pullback given Q4 sets up better and shares at 25-turns 2026 EV/free cash flow.