BUZZ-Atlassian rises on strong Q2 results, brokerages raise PT

Reuters

Jan 31, 2025

** 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))

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