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
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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
