Fly News Breaks for January 24, 2020
Jan 24, 2020 | 05:23 EDT
Jefferies analyst Brent Thill raised his price target for Atlassian to $140 from $125 saying the company "blew out modest" fiscal Q2 expectations and raised guidance for fiscal 2020 by more than the beat reflecting strong demand for its products. The company's 30%-plus sales growth coupled with over 20% bottom line margins "makes this a rare story in software," but the current "premium valuation" warrants a Hold rating, Thill tells investors in a research note.
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