Atlassian price target lowered to $260 from $350 at Barclays

Barclays lowered the firm’s price target on Atlassian (TEAM) to $260 from $350 and keeps an Overweight rating on the shares. The company’s Q3 results were slightly worse than expectations following strong Q1 and Q2 sales execution, the analyst tells investors in a research note. The firm says Improving migrations, stable paid seat expansion, and enterprise momentum keep it positive on Atlassian’s medium-term outlook.