Atlassian price target lowered to $98 from $146 at Cantor Fitzgerald

Cantor Fitzgerald analyst Thomas Blakey lowered the firm’s price target on Atlassian (TEAM) to $98 from $146 and keeps an Overweight rating on the shares. While checks indicate expectations of continued strength in the data center to Cloud transition, the price target is being lowered given continued multiple compression in software, the analyst tells investors in a research note.