Canaccord analyst David Hynes raised the firm’s price target on Atlassian to $175 from $150 and keeps a Buy rating on the shares. The analyst said he would be a buyer on any weakness after the company cut its guidance as he believes the cut feels more cautionary than the last time they cut guidance.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on TEAM:
- Atlassian Slumps after Q3 Revenue Outlook Disappoints
- Atlassian price target raised to $160 from $140 at Piper Sandler
- Atlassian sees Q3 revenue $890M-$910M, consensus $900.92M
- Atlassian sees FY23 revenue growth y/y 25%, consensus $3.49B
- Atlassian board authorized program to repurchase up to $1B of stock