KeyBanc lowered the firm’s price target on Atlassian (TEAM) to $275 from $365 and keeps an Overweight rating on the shares after attending Team ’25, Atlassian’s annual user conference, an investor-specific session, and also hosting an event with KeyBank’s Agile Practice Lead. The firm came away relatively surprised to the positive that customers/partners had not yet seen a deteriorating demand environment, and that Cloud migration activity sounded steady. That said, customers acknowledged that tariffs could lead to slowing eventually.
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