Atlassian Corporation (TEAM) PT Raised to $152 at Cowen

Cowen analyst Derrick Wood raised the price target on Atlassian Corporation (NASDAQ: TEAM) to $152.00 (from $144.00) while maintaining an Outperform rating.

The analyst commented, "TEAM reported a solid 4Q with a revenue, billings and EPS beat. FY20 rev guide was in line with consensus. We think TEAM's new emphasis on Cloud will drive an accelerating rate of upgrades and stronger long-term revenue capture, though at the expense of some minor near-term pressure on growth and cash flow. Long-term investors should stay the course."

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