Atlassian stock price target raised to $65 from $56 at BMO Capital
Atlassian stock price target raised to $65 from $56 at BMO Capital
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Atlassian stock price target raised to $65 from $56 at BMO Capital
Technically speaking, the major U.S. benchmarks have weathered an initially volatile response to the Federal Reserve’s hawkish-leaning meeting minutes. Consider that the S&P 500 has bottomed this week at 2,701 — slightly above major support — and the successful retest preserves its recovery attempt.
Atlassian Corp. PLC shares fell in the extended session Thursday after the enterprise software company released fiscal second-quarter results, which beat revenue and earnings expectations. Atlassian shares fell 3.8% to $53.48 after hours. The stock closed at a record high of $55.60 during the regular session Thursday. The company reported a fiscal second-quarter net loss of $65.2 million, or 28 cents a share, compared with a loss of 1.6 million, or one cent a share, in the year-ago period. Adjusted earnings were 13 cents a share. Revenue rose to $212.6 million from $148.9 million in the year-ago period. Analysts surveyed by FactSet had estimated earnings 12 cents a share on revenue of $204.5 million. For the fiscal third quarter, analysts model adjusted earnings of 11 cents a share on revenue of $215.2 million. Atlassian stock has gained 104% in the last 12 months, with the S&P 500 index rising 23%.
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Atlassian Corp. Plc operates as an enterprise software company. Its products help large and small organizations in tracking, collaboration, communication, service management and development products to work smarter and deliver results on time. The company's products include JIRA Software, Confluence, HipChat, Trello, Bitbucket and JIRA Service Desk. Atlassian was founded by Michael Cannon-Brookes and Scott Farquhar in 2002 and is headquartered in London, the United Kingdom. (See Full Profile)
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