Atlassian Rebounds From 8-Year Low as Brokers Cut Targets but Stay Bullish

Overview

• Shares rose 6.21% Tuesday to $78.38 after touching an eight-year low of $67.85 on February 24.
• Citi lowered its price target to $160 from $210 following the fiscal Q2 report and reiterated a Buy rating, citing sector turbulence.
• Baird trimmed its target to $140 from $170 and kept an Outperform rating after updating its model post-results.
• BMO Capital reduced its target to $130 from $135, maintained Outperform, and noted solid metrics with management slightly raising fiscal 2026 targets excluding M&A.
• Atlassian announced an open beta for Jira agents and new investments in the Model Context Protocol, while Jefferies stayed positive, viewing AI as a demand driver for its collaboration tools.