Macquarie analyst Steve Koenig initiated coverage of Atlassian (TEAM) with a Neutral rating and $290 price target Atlassian is a leader in planning and collaboration solutions for software development, IT, and non-technical teams, the analyst tells investors in a research note. The firm says that despite the company’s “strong” market opportunity, it could struggle with its seat-based model. The company’s seat-based model looks a liability in an environment beset with software developer layoffs since 2019, contends Macquarie.
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