Piper Sandler lowered the firm’s price target on Atlassian to $200 from $225 and keeps a Neutral rating on the shares. Atlassian’s Q3 cloud revenue and cloud guidance were in line with estimates, and SMB-related macro seat-expansion pressures continue to weigh on results, the analyst tells investors in a research note. The firm says shares are relatively fairly priced and the steady-state growth of the business in fiscal 2025 and beyond remains unclear.
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