Atlassian price target raised to $225 from $220 at Piper Sandler

Piper Sandler raised the firm’s price target on Atlassian to $225 from $220 and keeps a Neutral rating on the shares. Atlassian’s Cloud metrics were the focal point as revenue, without the benefit from Loom, was inline with the midpoint of guidance, the analyst tells investors in a research note. Shares continue to be relatively fairly priced and the steady-state growth of the business in FY25 and beyond remains unclear, the firm adds.