Atlassian price target lowered to $210 from $230 at Truist

Truist lowered the firm’s price target on Atlassian (TEAM) to $210 from $230 and keeps a Buy rating on the shares after its Q1 results. The company delivered upside to the firm’s top and bottom-line estimates, driven by cloud migrations, seat count, and upsell ahead of expectation, the analyst tells investors in a research note. With the launch of the Ascend program, Atlassian also raised their migration impact projection from mid-single-digits to mid-to-high single-digits, the firm added.