Atlassian Performs Despite Macro Headwinds: 4 Analysts On Q4 Print, Outlook
Portfolio Pulse from Priya Nigam
Atlassian Corp (NASDAQ:TEAM) reported upbeat results for its fiscal fourth quarter, leading to a surge in its shares. Analysts from Mizuho Securities, Truist, Morgan Stanley, and JMP Securities provided positive feedback on the results, with Mizuho and Truist raising their price targets. Atlassian's total revenues grew by 24% YoY, exceeding the Street's estimate of 20%. The company also saw strong cloud migrations and better-paid user expansion.
August 04, 2023 | 3:41 pm
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Atlassian Corp reported strong Q4 results, leading to a surge in its shares. Analysts provided positive feedback, with some raising their price targets. The company's total revenues grew by 24% YoY, exceeding estimates.
Atlassian Corp's strong Q4 results and positive feedback from analysts, including raised price targets, are likely to have a positive impact on its stock price in the short term. The company's revenue growth and strong cloud migrations also indicate a positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100