Atlassian price target lowered to $300 from $325 at Oppenheimer

Oppenheimer lowered the firm’s price target on Atlassian (TEAM) to $300 from $325 and keeps an Outperform rating on the shares. The firm notes Atlassian reported December-quarter revenue/EPS modestly above targets, but billings disappointed as increased enterprise deal complexity led to longer deal cycles and a back-end-heavy quarter. Oppenheimer is comfortable that management can tighten execution/better monitor linearity, especially considering Atlassian’s still very early in establishing its enterprise sales/GTM motion and has multiple newer product upsell/expansion levers in place. However, considering that macro visibility is limited, investors could wait for a better view on FY26 guidance/execution proof points, the firm adds.