Citi adds ‘upside 90-day catalyst watch’ on Atlassian

Citi analyst Fatima Boolani placed an “upside 90-day catalyst watch” on Atlassian (TEAM) while keeping a Buy rating on the shares with a $240 price target The firm views the stock’s current valuation as “punitive” and reflective of investors “misperceptions” around the company’s competitive positioning and artificial intelligence monetization abilities. Citi expects Atlassian’s cloud business to show stability and expects data center price increases in January.