Atlassian (TEAM) Stock Hits 52-Week High as Analysts Raise Price Targets After Q4 Beat
TLDR
- Atlassian stock hit a 52-week high of $184.22, up nearly 7% on the day
- Q4 EPS came in at $1.87 vs. $1.50 expected; revenue of $1.77B beat estimates of $1.66B
- Cloud revenue grew 31% year-over-year to $1.21B; remaining performance obligations up 44%
- Royal Bank of Canada upgraded the stock to “Moderate Buy”; 25 analysts now rate it a Buy
- 21 analysts have recently revised earnings estimates upward; consensus price target stands at $178.63
Atlassian (TEAM) stock hit a 52-week high of $184.22 on Wednesday, trading around $184.13 with a market cap of $46.45 billion. The stock is up roughly 7% on the day and has surged 124% over the past six months.
The move comes after Atlassian posted a strong fiscal Q4, reporting adjusted EPS of $1.87 against a consensus estimate of $1.50. Revenue hit $1.77 billion, topping forecasts of $1.66 billion and marking 28% year-over-year growth.
Cloud revenue was a standout, growing 31% to $1.21 billion. Remaining performance obligations jumped 44% to $4.8 billion, a figure that points to strong forward demand.
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