Soochow Securities cuts target stock prices for multiple technology companies.

Nomura Securities has lowered the target stock prices for several technology companies. Nomura has reduced Atlassian's target price from $245 to $225, Cloudflare's target price from $280 to $255, and Microsoft's target price from $640 to $620. The firm maintains a "outperform" rating on these three companies. Some research shows that the concentration of year-end budgets has eased compared to usual. In addition, investors' ongoing concerns about industry disruption caused by AI continue to weigh on the valuation multiples of many software companies, especially in the SaaS sector.