Raymond James lowered the firm’s price target on Atlassian (TEAM) to $130 from $170 and keeps an Outperform rating on the shares. Atlassian significantly outperformed expectations in Q3 with accelerating Cloud growth, strong guidance, and expanding AI adoption via Rovo and Collections, reinforcing ecosystem durability and countering “AI disruption” concerns, while near-term valuation debate persists despite continued evidence of long-term monetization potential, the analyst tells investors in a research note.
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