Atlassian price target raised to $370 from $315 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Atlassian (TEAM) to $370 from $315 and keeps an Overweight rating on the shares. Record $1M-plus customer adds, 40%-plus growth in upsells, and greater than 1M MAUs for Atlassian Intelligence “all point to a strong yield against investments in a unified Cloud platform,” the analyst tells investors in a post-earnings note.