Baird analyst Rob Oliver lowered the firm’s price target on Atlassian to $190 from $210 and keeps an Outperform rating on the shares. The analyst admitted he has been on the wrong side of Atlassian this year, as increased margin pressure, seat-based weakness, and investor unwillingness to look through model transitions have hurt this PLG leader. He said he remains optimistic, however, on the medium/long term for the company, supported by his "Blue Sky" FCF framework.
Published first on TheFly
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