Baird analyst Rob Oliver downgraded Atlassian to Neutral from Outperform with a price target of $175, down from $230. The company reported a mixed quarter with fiscal 2025 guidance below Street estimates, the analyst tells investors in a research note. The firm says Atlassian’s cloud guidance fell short of expectations as the company pointed to a more risk-adjusted guidance than years past. Combination of risk around enterprise go-to-market functions and recent sales leadership changes pushes Baird to the sidelines as it waits for visibility to improve.
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