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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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Max Knoblauch12m

Ford raises its full-year guidance, receives $1.3 billion tariff refund

Ford reported its first-quarter results after markets closed on Wednesday. The automaker’s shares climbed roughly 7% in after-hours trading on the news.

For Q1, Ford reported:

Adjusted earnings of $0.66 per share, compared to the $0.18 per share expected by Wall Street analysts polled by FactSet. The figure includes Ford’s tariff reimbursement.
$43.25 in total revenue, vs. the $42.66 billion consensus. Automotive revenue came in at $39.8 billion, compared to estimates of $38.9 billion.
A $1.3 billion tariff refund.

Ford boosted its full-year guidance for adjusted earnings before interest and taxes to between $8.5 billion and $10.5 billion, up from between $8 billion to $10 billion.

Late last year, Ford announced it would take $19.5 billion in charges — one of the largest write-downs ever — relating mostly to its EV business. $7 billion of those charges will be spread across this year and next, the company said.

Earlier this month, Ford recorded an 8.8% drop in Q1 sales from the same period last year, a similar result to Detroit rival GM, which posted a 9.7% sales drop.

markets

Microsoft beats on revenue and earnings in Q3

Microsoft reported strong Q3 earnings after the bell Wednesday, posting sales of $82.9 billion for the quarter, beating FactSet analyst estimates of $81.4 billion. Earnings per share were $4.27 handily beating estimates of $4.05.

Azure (and other cloud revenue) increased 40% on year.

Microsoft reported a $627 billion backlog of commercial bookings (known as RPO), growing 99%.

In the earnings release, Microsoft CEO Satya Nadella said:

“Our AI business surpassed an annual revenue run rate of $37 billion, up 123% year-over-year.”

Microsoft shares whipsawed in after-hours trading.

This is a developing story.

Carvana reports better-than-expected Q1 sales, gross profit per vehicle

Carvana reported its first-quarter earnings after markets closed on Wednesday.

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Amazon reports strong Q1 results with mixed Q2 guidance

The e-commerce and cloud giant just released quarterly results.

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Tasha Matsumoto

The S&P 500 finishes marginally lower while oil climbs amid war uncertainty

Stocks pared steeper losses as a somewhat hawkish shift within the central bank sent stocks to their lows of the day.

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