Atlassian price target raised to $280 from $215 at Citi

Citi analyst Fatima Boolani raised the firm’s price target on Atlassian to $280 from $215 and keeps a Buy rating on the shares. Channel feedback for observability and DevOps names was encouraging, but the sharp run-up in the stocks “leaves an unnerving stock set-up” into the Q4 prints, the analyst tells investors in a research note. In rolling forward valuation frameworks, Citi increased price targets.