Atlassian price target lowered to $265 from $290 at Mizuho

Mizuho lowered the firm’s price target on Atlassian (TEAM) to $265 from $290 and keeps an Outperform rating on the shares as part of a Q2 earnings preview for the software group. The firm says its Q2 checks were good overall, with cybersecurity demand “generally healthy” and artificial intelligence adoption “very strong. However, several contacts noted slightly more deal pushouts than expected, which could constrain fundamental upside in the quarter, the analyst tells investors in a research note. Mizuho’s favorite stocks to own ahead of the print are Cyberark (CYBR) and Microsoft (MSFT).