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Why Atlassian Stock Popped on Wednesday

TheMotleyFool 
0 0 15.01.25
Why Atlassian Stock Popped on WednesdayPhoto, wide shot, wide-angle lens, soft focus, IT consulting firm, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-uhXP0RHYYxDepjmHeSp1K8bF.png?st=2023-05-07T15%3A26%3A44Z&se=2023-05-07T17%3A26%3A44Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-05-07T16%3A18%3A55Z&ske=2023-05-08T16%3A18%3A55Z&sks=b&skv=2021-08-06&sig=4pcJOd8aEI1799liUV13F4ElqO7e4RZy8sa1PEeeNZA%3D
 

(NASDAQ: TEAM) stock enjoyed a modest price bump of 1.7% through 11:30 a.m. ET Wednesday after earlier enjoying a more dramatic gain in premarket trading.

Why is Atlassian rising? Because yesterday, two separate investment banks published notes describing some pretty dramatic pricing power at the software stock.

In separate notes on TheFly.com, first Barclays and then Citigroup pointed out that effective Feb. 11, Atlassian is raising prices on its Jira Service Management, Jira Software, and Confluence products. Prices will rise 23%, 24%, and 29%, respectively, says Barclays, while Citi estimates increases at between 23% and 24%. Both bankers agree that the price hikes will be significantly greater than the 5% to 15% increases Atlassian imposed in 2024.

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Source Fool.com

Atlassian Corp. Stock

€128.80
35.840%
A very strong showing by Atlassian Corp. today, with an increase of €34.30 (35.840%) compared to yesterday's price.
Atlassian Corp. is currently one of the favorites of our community with 7 Buy predictions and no Sell predictions.
On the other hand, the target price of 128 € is below the current price of 128.8 € for Atlassian Corp., so the potential is actually -0.62%.
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