Canaccord analyst David Hynes lowered the firm’s price target on Atlassian (TEAM) to $255 from $300 and keeps a Buy rating on the shares. The firm said they reported Q3 results that were merely in line with top-line expectations and next quarter guidance that narrowly bracketed consensus estimates. This marks a departure from recent quarters, where Atlassian has consistently exceeded revenue guidance by 3-4 percentage points. The company cited deal delays, data center headwinds, and seasonality.
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