Stock Track | Atlassian Soars 5.01% in Pre-Market on Analyst Price Target Hikes and Strong Q3 Earnings

Stock Track05-07

Atlassian Corporation PLC's stock soared 5.01% in pre-market trading on Thursday, driven by positive analyst actions and strong quarterly results.

Barclays raised its price target on Atlassian to $112 from $106 while maintaining an Overweight rating, and BTIG increased its target to $130 from $120. These upgrades followed the company's better-than-expected third-quarter earnings, where adjusted EPS of $1.75 surpassed estimates by 32.58% and revenue of $1.787 billion beat expectations by 5.6%.

Additionally, management raised its annual revenue growth outlook from 22% to approximately 24%, bolstering investor confidence in the company's growth trajectory.

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