Atlassian price target raised to $255 from $190 at BMO Capital

BMO Capital raised the firm’s price target on Atlassian to $255 from $190 and keeps a Market Perform rating on the shares. The company delivered a reasonable quarter against high expectations were high, and the firm is also positive on Atlassian long-term fundamentals, the analyst tells investors in a research note. The company offers a compelling product suite as well as an innovative distribution and pricing strategy, though its neutral stance reflects valuation, BMO added.