Why Atlassian Shares Are Trading Higher Friday

Atlassian Corporation PLC TEAM shares are trading higher by 13.6% at $302.31 Friday morning after the company reported better-than-expected fourth-quarter EPS and sales results and issued first-quarter EPS and sales guidance above estimates.

Wells Fargo analyst Michael Turrin maintained Atlassian with an Overweight and raised the price target from $275 to $325.

Mizuho analyst Gregg Moskowitz maintained Atlassian with a Buy and raised the price target from $310 to $370.

Atlassian produces software that helps teams work together more efficiently and effectively. The company provides project planning and management software, collaboration tools and IT help desk solutions. Atlassian was founded in 2002 and is headquartered in Sydney, Australia.

Atlassian has a 52-week high of $301 and a 52-week low of $160.

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