Atlassian price target lowered to $220 from $250 at TD Cowen

TD Cowen lowered the firm’s price target on Atlassian (TEAM) to $220 from $250 and keeps a Hold rating on the shares. The firm said they posted solid Q4 results and the guidance was better than feared with encouraging developments in paid seat expansion & enterprise execution, though guide calls for a seasonally weaker 1Q off a lower expiry base.