Barclays analyst Ryan MacWilliams raised the firm’s price target on Atlassian to $165 from $130 and keeps an Equal Weight rating on the shares. The analyst says investors have started to price in an improving fiscal 2024 macro outlook for software names, though the firm’s expectations are more muted for the Q2 results and Q3 guides. Atlassian is a difficult short for investors into Q4 earnings, as a weaker than Street fiscal 2024 guide is expected for cloud sales, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on TEAM:
- DA Davidson tech/software analysts to hold analyst/industry conference call
- Atlassian price target raised to $205 from $175 at Baird
- Atlassian price target raised to $205 from $175 at KeyBanc
- Fly Insider: Calavo Growers, Chewy among notable insider trades this week
- Atlassian price target lowered to $205 from $215 at Mizuho
