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BofA starts Atlassian at Neutral; growth story clouded by transition and deals
['Tue', 'Sept', 'Min Read']
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Investing.com -- Bank of America initiated coverage of Atlassian with a Neutral rating and $200 price target, saying the software company has strong long-term potential but faces near-term uncertainty.
Management has guided for revenue growth above 20% through fiscal 2027, which BofA called attractive.
While that could help cloud revenue, BofA said it also risks customer churn if companies switch providers instead.
Atlassian has also struck two acquisitions worth $1.6 billion, adding analytics vendor DX and AI browser maker The Browser Co.
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