Atlassian price target raised to $350 from $300 at Truist

Truist raised the firm’s price target on Atlassian (TEAM) to $350 from $300 and keeps a Buy rating on the shares. The company delivered strong upside to estimates with their Q2 release, having called out stability in the SMB segments that had challenged the business in prior years as well as traction with their enterprise sales motion and new product offerings, the analyst tells investors in a research note. Atlassian has established a solid foundation and there is more than can go right to drive upside to expectations through the year, the firm added.