UBS analyst Karl Keirstead lowered the firm’s price target on Atlassian to $200 from $250 and keeps a Neutral rating on the shares. Altassian delivered 64% data center growth and drove large margin, billings and cash flow beats, but this was overshadowed by another quarter of in-line cloud revenue growth, commentary that the environment remains challenging for the SMB base on paid seat expansions, and news that Scott Farquhar will be leaving the co-CEO role in August, the analyst tells investors in a research note.
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