Morgan Stanley argues that Atlassian (TEAM) “faces an attractive setup” into fiscal Q2 with shares down 25% year-to-date and trading at “a deeply discounted valuation.” The firm sees a path to 22% revenue growth and 26% operating margin in Q2 as building Cloud momentum and stable demand environment come up against “conservative estimates and overstated AI concerns,” the analyst added in a preview. The firm has an Overweight rating and $320 price target on Atlassian shares.
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