Atlassian price target lowered to $262 from $330 at Jefferies

Jefferies lowered the firm’s price target on Atlassian (TEAM) to $262 from $330 and keeps a Buy rating on the shares. Amid “rising tariff uncertainty,” the firm “preemptively” cut forecasts across its 29 covered software companies. Jefferies’ analysis suggests 15% average stock downside across the group, with most multiple compression at Palantir (PLTR) and the least at Meta Platforms (META). “Until macro conditions clarify, a selective buying approach is needed,” as a broader improvement may wait until the second half of the year, the analyst tells investors in a research note.