On August 19, Atlassian Corporation PLC rose 5.15% in regular trading, trading at $166.775/share, with turnover of $350 million. The stock continued its post-earnings momentum driven by a significant Q4 beat and a wave of investment bank upgrades.

The company reported fiscal Q4 non-GAAP EPS of $1.87, exceeding the consensus estimate of $1.50 by approximately 25%. Revenue reached $1.766 billion, surpassing expectations of $1.66 billion by roughly 6%, representing 28% year-over-year growth. The Q1 revenue guidance of $1.705 billion to $1.715 billion also significantly topped the Street estimate of $1.67 billion.

Following the results, BofA Securities upgraded the stock to Buy from Neutral, raising its price target to $175 from $105. Morgan Stanley maintained its Overweight rating while lifting its target to $180 from $120, citing accelerating cloud revenue growth of 31% year-over-year and AI monetization momentum through Teamwork Graph. The mean analyst price target now stands at $177.46.

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