Atlassian price target raised to $107 from $98 at Cantor Fitzgerald

Cantor Fitzgerald analyst Thomas Blakey raised the firm’s price target on Atlassian (TEAM) to $107 from $98 and keeps an Overweight rating on the shares. Atlassian delivered a strong Q3 beat driven by accelerating Cloud growth, standout momentum in Service and Teamwork Collections, and strong RPO expansion, reinforcing its AI-led platform strategy, while near-term free cash flow pressure from restructuring and Data Center timing noise was offset by improving margins and durable long-term growth signals, the analyst tells investors in a research note.