Canaccord analyst David Hynes lowered the firm’s price target on Atlassian (TEAM) to $185 from $230 and keeps a Buy rating on the shares. The firm said Atlassian delivered 26% cloud revenue growth in the quarter, a slight uptick from the prior three quarters and solidly ahead of 22.5% growth guidance. Management increased full year Cloud growth guidance by 180 bps while noting they’ve kept the same level of prudence to assumptions in the second half of the year.
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