Atlassian price target lowered to $180 from $200 at Truist

Truist lowered the firm’s price target on Atlassian to $180 from $200 and keeps a Hold rating on the shares. The company posted “solid” Q1 results driven by another strong quarter in the datacenter segment, though Atlassian also continues to be impacted by macro headwinds in paid seat expansion and free-to-paid conversion, which lends to their cautious approach to cloud guidance that is relatively more exposed to these headwinds, the analyst tells investors in a research note.