Morgan Stanley ups Atlassian target, makes shares a ‘Top Pick’

Morgan Stanley analyst Keith Weiss raised the firm’s price target on Atlassian to $224 from $216 and keeps an Overweight rating on the shares. The analyst also named Atlassian a “Top Pick.” While a “disappointing” fiscal 2025 sales guide added to already negative investor sentiment, it “creates a compelling entry point for long-term investors,” the analyst tells investors in a research note. The firm says an expanding opportunity from Atlassian’s broader product portfolio against “de-risked” estimates “sets a clear catalyst path to drive shares higher.”