Sell a Half of Atlassian (TEAM)
I’m recommending that we take profit on half of our position in Atlassian Corp. (TEAM).
After reporting estimate-beating fiscal Q1 (ended September) results on Thursday, led by a 31% year-on-year jump in cloud revenue growth, the stock opened up Friday’s session with a more than 20% gain.
A number of Wall Street banks have raised share price ratings for Atlassian in the wake of the sanguine Q1 report, which paves the way for additional gains. For now, though, we’ll take the profit on half of our position. SELL A HALF
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