markets

Luke Kawa1/31/25

Atlassian’s blockbuster earnings are radically altering Wall Street’s outlook for the software company

Shares of Australia-based software company Atlassian are going parabolic in early trading after its quarterly revenues and adjusted earnings per share exceeded every analysts’ estimate.

Management also boosted its revenue and margin outlook for the next two quarters.

“By infusing AI throughout our world-class cloud platform, we’re empowering all teams to accelerate collaboration and unlock organizational knowledge, further enabling them to unleash their full potential,” CEO and cofounder Mike Cannon-Brookes said.

The entire sell side was seemingly taken aback by this operational performance and improved guidance. Now Wall Street analysts are in a mad scramble to revise their price targets for the company higher (see below):

Jefferies: to $400 from $325
Canaccord: to $375 from $285
Morgan Stanley: to $370 from $315
Keybanc: to $365 from $315
Piper Sandler: to $365 from $310
Mizuho: to $355 from $285
Barclays: to $350 from $275
Truist: to $350 from $300
Scotiabank: to $330 from $250
Raymond James: to $330 from $250
Berstein: to $325 from $270
TD: to $320 from $280
Baird: to $320 from $250
Cantor Fitzgerald: to $304 from $264

Shares peaked above $324 in early trading on Friday.

Jefferies: to $400 from $325
Canaccord: to $375 from $285
Morgan Stanley: to $370 from $315
Keybanc: to $365 from $315
Piper Sandler: to $365 from $310
Mizuho: to $355 from $285
Barclays: to $350 from $275
Truist: to $350 from $300
Scotiabank: to $330 from $250
Raymond James: to $330 from $250
Berstein: to $325 from $270
TD: to $320 from $280
Baird: to $320 from $250
Cantor Fitzgerald: to $304 from $264

Shares peaked above $324 in early trading on Friday.

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J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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markets

Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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