Why Atlassian Finished August Up 13%

By Motley Fool

Shares of Atlassian (NASDAQ: TEAM) were moving higher last month, gaining 13%, according to data from S&P Global Market Intelligence. The maker of enterprise cloud software benefited due to momentum from a strong earnings report at the end of July and from an analyst endorsement at the end of August. On the last day of trading in July, Atlassian shares jumped 22% after the company smashed estimates, posting revenue growth of 30% to $560 million, well ahead of estimates at $524.1 million.

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