Cowen analyst J. Derrick Wood said that while Atlassian reported a mixed Q3, with a revenue beat and a billings miss, he would advise to take advantage of the pullback as "dips have historically been an opportune time to buy" the stock. Pull-forward activity in Q2 ahead of a mid-October price increase hurt deferred revenue growth and management said that this will impact Q4 deferred too, but to a lesser degree than Q3 and that the effect should fade each subsequent quarter, noted Wood. He maintains an Outperform rating on Atlassian with a $125 price target.