Atlassian rises on strong Q2 results, brokerages raise PT

Atlassian

31/01/2025 10:52

** Shares of enterprise software developer Atlassian Corp
 TEAM.O  rise 18.1% to $315.06 in premarket trading
    ** Brokerages Jefferies and Canaccord Genuity raise PT to
$400 and $375 respectively
    ** Atlassian made several incremental strides in enhancing
its cloud solutions for enterprise customers - Canaccord
    ** Jefferies shows confidence in TEAM's web-based marketing,
low-cost/low-touch sales model, low average transaction sizes,
viral product adoption and focus on R&D investment, which will
continue to drive growth
    ** Co on Thursday posted Q2 revenue of $1.29 bln vs
analysts' estimate of $1.24 bln - LSEG
    ** Co sees Q3 revenue between $1.345 bln and $1.353 bln,
compared with analysts expectations of $1.31 bln 
    ** TEAM gained 2.3% in 2024

 (Reporting by Kritika Lamba in Bengaluru)
 ((Kritika.Lamba@thomsonreuters.com))