Atlassian price target lowered to $190 from $225 at UBS

UBS lowered the firm’s price target on Atlassian to $190 from $225 and keeps a Neutral rating on the shares. Atlassian reported a mixed print, as the Cloud revenue growth metric was in-line at 27% and tempered language about the rate of seat growth pressure offset better than expected bottom-line performance, the analyst tells investors in a research note. The firm says valuation seems fair at the current level.