Stephens lowered the firm’s price target on Atlassian (TEAM) to $202 from $221 and keeps an Equal Weight rating on the shares after the company delivered a “mixed” Q4 and gave “mixed” FY26 guidance. While the firm thinks AI-driven seat headwind fears are “overblown,” it doesn’t want to fight sentiment driven by AI and back-half and FY27-loaded growth needed to meet guidance, the analyst tells investors.
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