Atlassian price target lowered to $215 from $230 at Citi

Citi lowered the firm’s price target on Atlassian to $215 from $230 and keeps a Buy rating on the shares. The analyst says the Q3 reporting season in North America systems software leaves a mixed set of data points about the software demand backdrop and prospects for spending recovery into year-end. The 2024 cyber budget cadence “remains a hot button despite attractive secular dynamics,” the analyst tells investors in a research note.